In December 2020, the FSC received notifications from the competent authorities of Member States regarding the performance (registration or termination of notification) of activities by insurance companies and insurance intermediaries for a total of 56 (fifty-six) companies based in other Member States of the EU, incl. notifications for extension of the scope of the performed activity or provision of information for the change of addresses and representatives and transfer of insurance portfolios.

For the period 01.12.2020 – 31.12.2020 the FSC received a notification from the supervisory competent authority of Iceland regarding the intention of an insurance company based in Iceland to operate in the territory of the Republic of Bulgaria under the terms of freedom to provide services , as well as 7 (seven) notifications regarding the withdrawal of notification in respect of insurers, established in EU Member States, which have declared their intention to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services.

As of the end of December 2020, 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 principle of freedom to provide services, amounts to 649 (six hundred and forty-nine).

In December, the FSC decided at its meeting held on 10.12.2020 to send a notification to the competent supervisory authority of the Republic of Austria, which provided information in connection with the notification received by the FSC about the conditions under which a branch of Porsche Versicherungs AG may carry out insurance activities on the territory of the Republic of Bulgaria, under Class 3 “Land vehicles (other than railway rolling stock)” of Section II of Annex № 1 to the IC, under the terms of the right of establishment (through a branch).

In December 2020, the FSC received 29 (twenty-nine) 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.

There are 6 (six) insurance intermediaries for which notifications has been received by the competent authorities of the EU Member States of their intention to suspend the activity of insurance intermediation on the territory of the Republic of Bulgaria under the terms of freedom to provide services or the right of establishment.

As of 31 December 2020, the insurance intermediaries from Member States that have stated their intention to carry out insurance intermediation activities on the territory of the Republic of Bulgaria under the terms of freedom to provide services or the right of establishment (through a branch) are 3,123 (three thousand one hundred and twenty and three).

In December 2020, the FSC sent 6 (six) notifications to the competent authorities of EU and EEA Member States about the intention of insurance companies based in the Republic of Bulgaria to operate on their territory, or to withdraw their intention.

The FSC has sent a notification to the competent supervisory authority of the United Kingdom regarding the intention of Euroins Insurance AD to operate on the territory of the UK under the terms of the right of establishment (through a branch).

At the same time, 5 (five) notifications were sent to the competent supervisory authority of the United Kingdom regarding the withdrawal of the intention of Bulstrad Vienna Insurance Group AD, Bulstrad Life Vienna Insurance Group EAD, Asset Insurance AD, DallBogg: Life and Health AD and BAEZ EAD to operate on the territory of the UK under the terms of freedom to provide services.

The total number of insurance companies based in the territory of the Republic of Bulgaria which have stated their intention to carry out insurance activities on the territory of other EU Member States under the terms of freedom to provide services, remains 18.

For the period 01.12.2020 – 31.12.2020, 1 (one) notification was sent to the competent supervisory authorities of Romania, Italy, Germany, France, Greece, Spain, the Netherlands, Malta, Croatia, Poland and Cyprus regarding the intention of insurance company broker Accord EOOD to carry out insurance intermediation activities on their territory under the terms of freedom to provide services.

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, increased to 52 (fifty two) intermediaries.

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