The Parliament elected two new members of the Financial Supervision Commission proposed by the Chairman of the FSC – Mr. Stoyan Mavrodiev, according to his legislative prerogatives. The new members are Ms. Ralitsa Agayn – Guri  elected for a  Deputy  Chairperson  in charge of “Insurance supervision” and Mr. Vladimir Savov for a member of the regulator, responsible for policy analysis and risk assessment in financial markets, improving supervisory practice and protecting the interests of investors and insured persons.  

Their term of office is six years.

The candidatures of Ralitsa Agayn-Guri and Vladimir Savov were approved by the Parliament with 128 votes “for”, 9 votes “against” and 7 “abstain” and were supported by all parliamentary groups.

The proposal  was based on Art. 84, 8 and Art. 86 , para. 1 of the Constitution of the Republic of Bulgaria in connection with Art. 5 para. 2 of the Act on the Financial Supervision Commission .

In  their speeches  the  two new members expressed their willingness and readiness to improve the mechanisms for protecting the rights of consumers of non-banking financial services,  for the development of financial markets and  for maintaining the financial stability in Bulgaria. 

The Financial Supervision Commission (FSC) notifies all concerned parties that on 6^th of November 2013 the competent authority of the United Kingdom (Prudential Regulation Authority) has informed about the approval of portfolio transfer of life insurance business from Guildhall Insurance Company Limited to Unionamerica Insurance Company Limited. The approval of the High Court took effect on 31 October 2013.

In July 2013 FSC has notified all concerned parties about the intention of Guildhall Insurance Company Limited to transfer its life insurance business to Unionamerica Insurance Company Limited.

FSC has not been notified on the intention of the transferee to operate on the territory of Bulgaria under the right of establishment or the freedom to provide services.

The Financial Supervision Commission (FSC) notifies all concerned parties that on 31^st October, 2013 the competent authority of the United Kingdom (Prudential Regulation Authority) has informed about the approval of portfolio transfer of life insurance business from B&C E Insurance Limited to Partnership Life Assurance Company Limited. The approval of the High Court took effect on 31^st October, 2013.

Оn 6^th June, 2013, the FSC notified all concerned parties about the intention of B&C E Insurance Limited to transfer its life insurance business to Partnership Life Assurance Company Limited.

FSC has not been notified on the intention of the transferee to operate on the territory of the Republic of Bulgaria under the right of establishment or the freedom to provide services.

The Financial Supervision Commission (FSC) notifies all concerned parties that on October 1^st, 2013 the competent authority of Ireland (Central Bank of Ireland) has informed that Enel.Re Limited, a reinsurance undertaking authorised in Ireland, merged with Enel.Re NV, the Netherlands on June 28^th, 2012 and was dissolved as a result. At the request of the company, the Central Bank of Ireland withdrew the reinsurance authorisation of Enel.Re Limited as of the date of the merger.

FSC has not been notified of the intention of Enel.Re Limited to operate on the territory of the Republic of Bulgaria under the right of establishment or the freedom to provide services.

The Financial Supervision Commission (FSC) notifies all parties concerned that on 10^th September, 2013 the competent authority of the United Kingdom (Prudential Regulation Authority) has informed about the intention of Chevanstell Limited (transferring insurer) to transfer all of its non-life insurance business to R&Q Insurance (Malta) Limited (transferee).

FSC has not been notified on the intention of the transferee to operate on the territory of the Republic of Bulgaria under the right of establishment or the freedom to provide services.

The Financial Supervision Commission (FSC) notifies all concerned parties that on 6 August 2013 the competent authority of Spain (Ministerio De Economia Y Competitividad) has informed about the adoption of special control measures affecting the insurer MUTUASPORT, MUTUA DE SEGUROS DEPORTIVOS A PRIMA FIJA. These measures include the following terms:

1)                              prohibition of MUTUASPORT, MUTUA DE SEGUROS DEPORTIVOS A PRIMA FIJA from disposing of or drawing on its real estate, securities, current or deposit accounts, financial assets or any other property in its possession;

2)                              prohibition of MUTUASPORT, MUTUA DE SEGUROS DEPORTIVOS A PRIMA FIJA to assume new debts, grant loans or provide guarantees or endorsements.

FSC has not been notified on the intention of the aforementioned insurance undertaking to operate on the territory of Bulgaria under the right of establishment or the freedom to provide services.

The Financial Supervision Commission (FSC) notifies all concerned parties that on 15 August 2013 the competent authority of the United Kingdom (Prudential Regulation Authority) has informed about the intention of MetLife Limited (transferring insurer) to transfer all of its insurance business to MetLife Europe Limited (transferee).

FSC has not been notified on the intention of the transferee to operate on the territory of  the Republic of Bulgaria under the right of establishment or the freedom to provide services.

The Financial Supervision Commission (FSC) notifies all concerned parties that on 22 August 2013 the competent authority of the Ireland (Central Bank of Ireland) has informed about а proposed transfer of life assurance portfolio from HSBC Life (Europe) Limited (transferring insurer) to HSBC Life Assurance (Malta) Limited (transferee).

FSC has not been notified on the intention of the transferee company to operate on the territory of the Republic of Bulgaria under the right of establishment or the freedom to provide services.

The Financial Supervision Commission (FSC) notifies all concerned parties that on 22 July 2013 the competent authority of Greece (Bank of Greece) has informed about the approval of the authorization withdrawal and the opening of winding-up proceedings of the following undertaking BINTERNATIONAL UNION INSURANCES S.A.

FSC has not been notified on the intention of the aforementioned insurance undertaking to operate on the territory of Bulgaria under the right of establishment or the freedom to provide services.

The Financial Supervision Commission (FSC) notifies all concerned parties that on 03 July 2013 the Competent Authority of the United Kingdom (Prudential Regulation Authority) has informed about the intention of Guildhall Insurance Company Limited (transferring insurer) to transfer all of its non-life insurance business to Unionamerica Insurance Company Limited (transferee).

FSC has not been notified on the intention of the transferee to operate on the territory of Bulgaria under the right of establishment or the freedom to provide services.