Bulgaria: New EU-Registered Insurance Companies Line up for Regulatory Nod

5. März 2007, 00:00

Bulgarias financial regulator reported the list of would-be registrants for operation on the local insurance market...

Bulgarias financial regulator reported the list of would-be registrants for operation on the local insurance market added up Austrian, Swiss and Dutch names, sources from Bulgarias Financial Supervision Commission said Friday.

The lists update includes names such as Wiener Staedtische Versicherung AG, OeKB Versicherung Aktiengesellschaft, D.A.S. Oesterreichische Allgemeine Rechtsschutz-Versicherungs, Prisma Kreditversicherungs AG, Pine Indemnity Ltd., GARANT Versicherungs-Aktiengesellschaft.

The watchdogs filing also enumerates the names of non-financial institutions from France, Great Britain, Germany, Luxembourg, Liechtenstein.

The entire registration spree follows on Bulgarias EU entry and the concurrent relaxation of market entry procedures. At present, a single regulatory nod is sufficient to launch operations in Bulgaria if the institution holds an EU registration.

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