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 01.09.2021 to 30.09.2021 the FSC received notifications from the competent authorities of Member States regarding the intention of 71 (seventy-one) 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.

2 (two) notifications were received regarding the intention of insurance companies based in EU Member States to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services, and by the end of September 2021 the total number of insurance companies based in other EU and EEA Member States which intend to operate in Bulgaria under the terms of freedom to provide services, increased to 413 (four hundred and thirteen).

For the period, the FSC received 13 (thirteen) 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 51 (fifty-one) notifications for termination of such activity in the country. As a result, as of 30.09.2021, the number of insurance intermediaries based in EU Member States that have stated their intention to carry out cross-border insurance intermediation activities in Bulgaria decreased to 2,227 (two thousand two hundred and twenty-seven).

In September 2021, the FSC sent notifications to the national competent authorities of the EU Member States about the intention of a local insurer to expand the scope of the company’s cross-border activities in their territory for certain classes of insurance.

During the same period, the FSC sent a notification to the competent authorities of EU Member States about the intention of a local insurance broker to expand its insurance intermediation activities by operating under the terms of freedom to provide services in their territory, as well as a notification to the national competent authority of the Republic of France for the intention of another insurance broker to start insurance intermediation activity on its territory.

As of the end of September 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 is 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 53 (fifty-three).

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