The data presented from the reports of insurers in non-life and life insurance at the end of January 2021 are summarized and published on the FSC website – www.fsc.bg, section “Insurance activity”, “Statistics”.
Data on the insurance market as of 28.02.2021
The data presented from the reports of insurers in non-life and life insurance at the end of February 2021 are summarized and published on the FSC website – www.fsc.bg, section “Insurance activity”, “Statistics”.
Data on the insurance market and the voluntary health insurance market as of May, 2008
news…
Data on the activity of insurance brokers as of 31.12.2020
The premium income realized through the insurance brokers in 2020 amounts to BGN 1,716,982 thousand. (BGN 1,686,860 thousand one year earlier), with an increase of 1%, of which:
– BGN 1,577,286 thousand. (with BGN 1,566,886 thousand reported twelve months earlier) for the benefit of insurers and reinsurers based in the Republic of Bulgaria.
– BGN 1,569,824 thousand. (with BGN 1,549,504 thousand reported for the previous year) for the benefit of insurers based in the Republic of Bulgaria.
– BGN 139,695 thousand (compared to BGN 119,973 thousand in 2019) for the benefit of insurers and reinsurers based in a Member State, operating in the Republic of Bulgaria under the terms of right of establishment /branches/ and the terms of the freedom to provide services, as well as insurance and reinsurance intermediation outside the territory of the Republic of Bulgaria and other insurance intermediation.
Income from commissions of insurance brokers in favour for the benefit of insurers based in the Republic of Bulgaria as of 31.12.2020 amounts to BGN 286,066 thousand. (compared to BGN 280,270 thousand in the previous year) for the benefit of insurers based in the Republic of Bulgaria, there is an increase of 2% on an annual basis.
Of all accrued commissions, 95% represent the revenues from subscribed insurance commissions in non-life insurance and 5% – respectively in life insurance.
In the structure of the premium income from non-life insurance realized through insurance brokers as of 31.12.2020, the largest share is occupied by motor insurance – Motor Their Party Liability (50.76%) and Land vehicles other than railway rolling stock(28.78%), followed by Fire and natural disasters (5.60%) and Guarantees (5.21%).
In life insurance, the premium income realized through insurance brokers as of 31.12.2020 was recorded mainly under Life and annuity insurance (48%), Sickness insurance (31%), Supplementary insurance (10%), followed by Unit-linked life insurance (4%).
Updated individual data from the reports of insurance brokers operating during the reporting period and registered in the Republic of Bulgaria as of 31.12.2020 are summarized and published on the FSC website in the section “Insurance activity”, “Statistics”, “Insurance Brokers”,”2020”.
Data on the activity of insurance brokers as of 30.06.2021
Updated individual data from the reports of insurance brokers operating during the reporting period and registered in the Republic of Bulgaria as of 30.06.2021 are summarized and published on the FSC website in the section “Insurance Activity”, “Statistics”, “Insurance Brokers”.
Data about the insurance market and the voluntary health insurance market for the period January-April 2008 has been announced
news…
Convention on naming of files in case of submission of reports by investment intermediaries according to Art.26 of Regulation (EG) № 600/2014
03/01/2018
In connection with the obligation of investment intermediaries to accurately and precisely report to the FSC on the concluded contracts for transferring of financial instruments according to Art.26 of Regulation (EC) 600/2014 on the markets of financial instruments and the applicable regulatory technical standards, please consider the 8 MB extent of the submitted files must not be exceeded. When submitting their reports, investment intermediaries, approved reporting mechanisms (ARMs) and trading venues consider the following convention on files naming: Legal Entity Identifier (LEI)_ddmmyyyy.xml, whereat “LEI” means the LEI code of the respective investment intermediary, ARM or trading venue, and “ddmmyyyy” is the date on which deals are completed.
Convention on naming of files in case of submission of reports by investment intermediaries according to Art.26 of Regulation (EG) № 600/2014
03/01/2018
In connection with the obligation of investment intermediaries to accurately and precisely report to the FSC on the concluded contracts for transferring of financial instruments according to Art.26 of Regulation (EC) 600/2014 on the markets of financial instruments and the applicable regulatory technical standards, please consider the 8 MB extent of the submitted files must not be exceeded. When submitting their reports, investment intermediaries, approved reporting mechanisms (ARMs) and trading venues consider the following convention on files naming: Legal Entity Identifier (LEI)_ddmmyyyy.xml, whereat “LEI” means the LEI code of the respective investment intermediary, ARM or trading venue, and “ddmmyyyy” is the date on which deals are completed.
Conducting of a second stress-test on the European insurance market
The launch of the second Europe-wide stress-test for the insurance sector is prepared on request of the EU Economic and Financial Committee (EFC), which will be conducted by the European Insurance and Occupational Pensions Authority (EIOPA). The stress test will be conducted in cooperation with the European Systemic Risk Board (ESRB) and the respective national supervisory authorities, and it is expected to be launched in the beginning of the second quarter of 2011. The purpose of the stress-test will be determination and quality assessment of the impact of various stress scenarios on the financial situation of the insurers in the conditions of adverse and difficult economic environment.
The test will be targeted at the European insurance sector and will include a minimum of 50% of insurance companies per country measured by gross premium income. The first stress-test covered only the thirty biggest European insurance groups. Currently, EIOPA is preparing a stress test proposal including the scope of the exercise, framework and economic scenarios under which the insurers’ capital positions will be tested. Before defining the final framework of the stress-test, EIOPA will seek the cooperation of the national supervisory authorities and the insurers associations.
Communication regarding the conducting of examinations for the acquisition of the right to exercise activity as a broker of financial instruments on 25 September 2021 (Saturday) and as an investment adviser on 26 September 2021 (Sunday)
The Financial Supervision Commission shall notify the candidates admitted to the examination of the following:
The examination for acquiring the right to exercise activity as a broker of financial instruments will be held on 25 September 2021 (Saturday) at 9:00 h at the Globus Congress Centre, Europe Hall, address: Sofia, 1 Macedonia Sq., the building of CITUB.
The examination for acquiring the right to exercise activity as an investment adviser will be held on 26 September 2021 (Sunday) at 9:00 h at the Globus Congress Centre, Europe Hall, address: Sofia, 1 Macedonia Sq., the building of CITUB.
The examinations will be held in strict compliance with the temporary anti-epidemic measures introduced by Order No. РД-01-748 of 02.09.2021 of the Minister of Health on the territory of the Republic of Bulgaria – use of not more than 30% of the capacity of the room in which the examinations are held and no more than 30 participants, observance of a physical distance of at least 1.5 m and wearing protective face masks by all participants.
The registration of the candidates will start at 8:00. Candidates not registered until 8:50 am will not be admitted to the exam.
When taking the exam, candidates must bring:
document for paid fee (original or bank certified copy). The name of the candidate who will take the exam should be explicitly stated in the document for paid fee;
ID;
HB or 2B pencils;
pencil eraser;
protective face mask.
The examinations will be held in one session on the day announced for the exam, as follows:
the examination for brokers of financial instruments lasts 4 hours and
the examinations for an investment adviser lasts 5 hours.
The following calculators can be used for exams:
Texas Instruments BA II Plus;
BA II Plus Professional;
HP 12C;
HP 12C Platinum;
HP 12C 25th anniversary edition, as well as
HP 12C 30th anniversary edition.
It is not allowed to use a calculator with programming functions, as well as the use of ordinary calculators or other electronic computing devices.
For additional questions, you can contact the FSC Information Centre at the toll-free line 0800 40 444 (Monday to Friday from 9:00 to 17:30)