On 9 June, the Bulgaria's Financial Supervision decided to withdraw the license of ZAD DallBogg: Life and Health AD. The FSC and National Competent Authorities in whose markets ZAD DallBogg: Life and Health AD distributed its products have been cooperating closely to protect the interests of consumers across the EU single market, EIOPA announced.

The Bulgarian Financial Supervision Commission (FSC) has decided to withdraw an insurer's license after finding that the company failed to meet the minimum capital requirement under Solvency II and submitted an inadequate plan to restore its solvency position. The regulator also cited the insurer's failure to comply with several supervisory measures, as well as multiple serious and systemic breaches related to its operations within the EU Internal Market and the Green Card system.

According to the FSC, information from supervisory authorities in Italy, Poland, Romania, Greece and Spain, together with findings from EIOPA, revealed long-standing deficiencies in claims handling, compensation payments and complaint management.

The Commission further noted that the insurer had failed to honor financial obligations established by final court rulings. The combined violations led the FSC to conclude that license withdrawal was warranted under EU insurance regulations.  

For more background, a timeline of relevant events was provided by EIOPA below:
 

• On 10 June 2025, FSC imposed a temporary ban on the provision of new and the extension of the term of existing cross-border products and services of ZAD DallBogg: Life and Health AD – under the freedom to provide services across the European Economic Area concerning all classes of insurance for an initial period of 3 months as of 1 July 2025.
• On 1 October 2025, the FSC issued a new ban on the provision of new and the extension of the term of existing cross-border products and services, without time limit, on ZAD DallBogg: Life and Health AD due to persisting and newly identified issues.
• Considering the ongoing issues and the company's failure to rectify them, on 2 April 2026, the FSC issued a decision with immediate effect as from 2 April 2026, imposing a ban on the conclusion of new insurance or reinsurance contracts for all classes of insurance within the territory of the Republic of Bulgaria.
• Following the above developments, the FSC initiated proceedings for the application of a coercive administrative measure, requiring the insurer to prepare a realistic short-term plan to restore solvency, to be presented within one month after the deadline for objections.
• The FSC received the short-term plan and assessed it as not sufficient. For this reason, on 9 June 2026 the FSC decided to withdraw the company’s license.