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

Posted on

For the period from 01.06.2021 to 30.06.2021 the FSC received 30 (thirty) notifications from competent authorities of EU Member States regarding the cross-border activity in Bulgaria of insurers and insurance intermediaries based in other EU Member States.

1 (one) notification was received for withdrawal of the intention of an insurer based in another EU Member State to carry out insurance activity in Bulgaria. As of the end of June 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, decreased to 426 (six hundred and twenty-six).

For the period, the FSC received 16 (sixteen) notifications regarding the intention of insurance intermediaries based in EU Member States to carry out insurance mediation activities in Bulgaria under the terms of freedom to provide services, as well as 6 (six) notifications for termination of such activity in the country. As of 30.06.2021, there are 2,292 (two thousand two hundred and ninety-two) insurance intermediaries based in EU Member States that have stated their intention to carry out cross-border insurance intermediation activities in Bulgaria

In June 2021, the FSC sent a notification to the national competent authorities of all EU Member States regarding the withdrawal of the intention of Bulgarian Export Insurance Agency EAD (BAEZ EAD) to carry out insurance activities under the conditions of freedom to provide services.

During the reporting period, the FSC provided information to the relevant competent supervisory authorities regarding the stated intention of Lev Ins AD to operate in Sweden, Denmark, Finland, Cyprus, Hungary, Croatia, Belgium, the Netherlands and Luxembourg for certain classes of insurance.

As of the end of June 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, decreased to 17.

For the period 01.06.2021 – 30.06.2021 the FSC did not send notifications regarding the intention of local insurance intermediaries to carry out cross-border activity on the territory of other Member States. At the end of the period, the total number of insurance intermediaries based in 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 52 (fifty two) intermediaries.

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