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 01.11.2021 to 30.11.2021 the FSC received notifications from the competent authorities of Member States regarding the intention of 80 (eighty) 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, including notifications for extension of the scope of the performed activity or provision of information for the change of addresses, representatives and other circumstances.

Notifications have been received from the national competent authorities of the EU Member States regarding the intention of 5 (five) insurance companies based in their territory to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services; only 4 (four) companies are registered so far, because 1 (one) of the notifications is expected to provide additional information. As of the end of November 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 418 (six hundred and eighteen).

For the period from 01.11.2021 to 30.11.2021 the FSC received notifications from the competent supervisory authorities of EU Member States regarding the intention of 17 (seventeen) insurance intermediaries based in EU Member States to carry out insurance intermediation activities on the territory of the Republic of Bulgaria under the terms of the freedom to provide services.

Notifications from competent authorities of the EU Member States regarding the intention to suspend the activity of insurance intermediation on the territory of the Republic of Bulgaria under the terms of freedom to provide services for the period 01.11.2021 – 30.11.2021 have been received for 46 (forty-six) insurance intermediaries. As a result, as of 30.11.2021, 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 2,189 (two thousand one hundred and eighty-nine), while in October they were 2218.

For the period 01.11.2021 – 30.11.2021 the FSC has not sent notifications to the national competent authorities of the EU Member States regarding the intention or withdrawal of the intention of the insurance companies based in the territory of the Republic of Bulgaria to carry out cross-border activity.

As of the end of November 2021, the total number of local insurance companies which have stated their intention to carry out insurance activities on the territory of other Member States of the EU and the EEA under the terms of freedom to provide services remains 17 (seventeen).

During the period the FSC has sent 1 (one) notification to the competent authorities of EU Member State regarding the intention of an insurance broker based in the Republic of Bulgaria to carry out cross-border insurance intermediation in their territory under the terms of the freedom to provide services.

The total number of insurance intermediaries based in the Republic of Bulgaria which declared their intention to carry out insurance intermediation activities in the territory of EU Member States under the terms of freedom to provide services or the right of establishment, increased to 54 (fifty four) intermediaries.

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