Regulatory Alerts2016-04-28
Ordinance No. 51 of 28.04.2016 on Own Funds and Solvency Requirements for Insurers, Reinsurers and Groups
The Commission for Financial Supervision issued Ordinance No. 51 to establish the qualitative and quantitative requirements for determining the own funds and solvency capital requirements of insurers and reinsurers in Bulgaria. The regulation implements the Solvency II framework by defining the classification of own funds into three tiers, setting eligibility limits, and detailing the supervisory approval procedures for capital instruments and distributions. It further outlines the specific oversight mechanisms for insurance groups and third-country entities operating through branches in Bulgaria.
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