Regulatory Alerts2026-07-27
Added · Updated
Insurance Code of the Republic of Bulgaria
The Insurance Code establishes the legal framework for insurance and reinsurance activities in Bulgaria, defining the scope of regulated activities, the principles of voluntariness, and the supervisory role of the Commission for Financial Supervision. It sets specific quantitative thresholds for insurers to qualify for restricted market access, limiting gross written premiums to 5,400,000 euros and technical reserves to 26,600,000 euros, while excluding certain high-risk categories and reinsurance activities exceeding defined limits. The Code also regulates the establishment of various legal entities, including captive insurers, and mandates the use of the Bulgarian language for contracts and consumer information.