Начало / Update of the lists of insurers and insurance intermediaries who have stated their intention to carry out cross-border activity within the Internal Market of the European Union

Update of the lists of insurers and insurance intermediaries who have stated their intention to carry out cross-border activity within the Internal Market of the European Union

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For the period from 01.08.2021 to 31.08.2021 the FSC received notifications from the competent authorities of Member States regarding the intention of 90 (ninety) insurers and insurance intermediaries based in other EU Member States to operate (entry or termination of the notification) on the territory of the Republic of Bulgaria under the terms of the freedom to provide services.

The FSC received 5 (five) notifications regarding the intention of insurance companies based in Member States of the EU to operate in the territory of the Republic of Bulgaria under the terms of freedom to provide services (registering insurance companies in the FSC list of notifications), as well as 24 (twenty-four) notifications regarding the withdrawal of intention of insurance companies established in EU Member States, to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services.

As of the end of August 2021, the number of insurance companies based in other EU and EEA Member States which intend to operate in Bulgaria under the principle of freedom to provide services, increased to 411 (six hundred and eleven).

For the period, the FSC received 12 (twelve) notifications regarding the intention of insurance intermediaries based in EU Member States to carry out insurance mediation activities in Bulgaria under the terms of freedom to provide services, as well as 41 (forty-one) notifications for termination of such activity in the country. As of 31.08.2021, there are 2,265 (two thousand two hundred and sixty-five) insurance intermediaries based in EU Member States that have stated their intention to carry out cross-border insurance intermediation activities in Bulgaria

In August 2021, the FSC sent a notification to the national competent authority of Ireland regarding the withdrawal of the intention of Euroins AD to carry out cross-border activities on its territory.

For the period 01.08.2021 – 31.08.2021 the FSC has not sent notifications regarding the intention or withdrawal of the intention of insurance intermediaries based in the Republic of Bulgaria to carry out insurance intermediation activities under the terms of freedom to provide services or the right of establishment on the territory of EU Member States.

As of the end of August 2021, the total number of local insurance companies that have stated their intention to carry out insurance activities in the territory of other EU and EEA Member States under the terms of freedom to provide services remains 17 (seventeen), and the total number of insurance intermediaries based in the Republic of Bulgaria, which have stated their intention to carry out insurance intermediation activities on the territory of EU Member States under the terms of freedom to provide services or the right of establishment, remains 52 (fifty-two).

The updated lists of notifications are available on the FSC website in the section “Supervised entities” – “Notifications”.