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 January 2022 the FSC received 81 (eighty-one) notifications from the competent authorities of Member States regarding the intention of insurers and insurance intermediaries based in other EU Member States to operate 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 the period no notifications were received from the national competent authorities regarding the intention of insurance companies to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services or the right of establishment, but 1 (one) notification was received regarding the withdrawal of an insurer based in Hungary to operate on the territory of the Republic of Bulgaria under the conditions of the freedom to provide services.

As of the end of January 2022, the number of insurance companies based in other EU and EEA Member States which have notified the FSC of their intention to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services, decreased to 417 (four hundred and seventeen).

In January 2022, the FSC received 16 (sixteen) notifications from the competent EU supervisory authorities 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, 56 (fifty-six) notifications were received regarding the termination of insurance intermediation activities on the territory of the Republic of Bulgaria under the terms of the freedom to provide services. As a result, at then end of January 2022, 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 2,128 (two thousand one hundred and twenty-eight).

In January 2022, the FSC notified the competent authority of the Republic of Portugal the intention of 1 (one) local insurer to extend the classes of insurance it offers in the territory of that Member State. As of the end of January 2022, 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.

For the period 01.01.2022 – 31.01.2022 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 intermediaries based in the territory of the Republic of Bulgaria to carry out cross-border activity.

At the end of the period, 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, remains 55 (fifty five) intermediaries.

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