For December 2021 the FSC received 73 (seventy three) notifications from the competent authorities of EU Member States regarding the intention of insurers and insurance intermediaries based in other EU Member States to carry out cross-border activity 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.

During this period, the FSC did not receive notifications from the national competent authorities of the EU Member States about the intention of insurance companies based in their territory to operate or cease operations in the Republic of Bulgaria under the conditions of freedom to provide services. . Therefore as of the end of 2021, the total number of insurance companies based in other Member States which intend to operate in Bulgaria under the principle of freedom to provide services, remains 418 (four hundred and eighteen).

For December 2021, the FSC received 21 (twenty-one) notifications from the competent supervisory authorities of EU Member States regarding the intention of insurance intermediaries based in EU Member States to carry out insurance intermediation activities in the territory of the Republic of Bulgaria under the terms of freedom to provide services.

During the same period, 42 (forty-two) notifications were received regarding the termination of insurance intermediation activities on the territory of the Republic of Bulgaria under the conditions of the freedom to provide services. As a result, at the end of 2021, the number of insurance intermediaries based in EU Member States that have stated their intention to carry out cross-border activities in the Republic of Bulgaria decreased to 2,168 (two thousand one hundred and sixty eight).

For December 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 insurance activity. Thus, at the end of 2021, the total number of local insurers which have stated their intention to carry out insurance activities on the territory of other Member States under the terms of freedom to provide services, remains 17 (seventeen).

During the period the FSC sent 1 (one) notification to the competent authorities of EU Member States regarding the intention of an insurance broker based in the Republic of Bulgaria to carry out cross-border insurance intermediation under the conditions of freedom to provide services in their territory, and 1 (one) notification of the intention of an insurance broker to extend its cross-border activity in the territory of the Member States under the conditions of freedom to provide services. Thus 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 55 (fifty five) intermediaries.

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