The measure aims to protect policyholders’ interests and safeguard the company’s solvency position. According to the regulator, the decision follows identified breaches related to market conduct as well as violations of the Insurance Code.
The restrictions take effect immediately and will remain in place until the company remedies the breaches. The FSC clarified that existing insurance contracts remain unaffected.
Coordinated supervisory actions across Europe
The Bulgarian decision comes amid a broader set of regulatory measures imposed by European supervisory authorities:
- Bulgaria (FSC): Ban on cross-border operations effective 1 July 2025 and 1 October 2025, citing market conduct violations and insufficient technical provisions;
- Poland (KNF): Indefinite ban on offering compulsory MTPL insurance from 17 April 2025 due to market conduct concerns;
- Romania (ASF): Indefinite ban on concluding new insurance contracts starting 1 October 2025, also linked to market conduct breaches.
DallBogg was the biggest non-life insurer in Bulgaria in terms of GWP and market share at the end of 2024, as the company noted on its website, citing FSC data. Its gross premium income at the end of 2024 amounted to BGN 527.1 million (EUR 269.5 million), securing a 13.5% market share. Most of its gross premium income came from MTPL policies, in the amount of BGN 451.3 million, the source added.
At the end of 2025, DallBogg ranked fourth in the non-life hierarchy, with a market share of 9.86% and GWP worth EUR 220.93 million.
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