Regulator Updates Lists of Insurance Undertakings Intending to Operate Cross-Border on EU Internal Market

Bulgaria's Financial Supervision Commission (FSC) on Wednesday published on its website updated lists of insurers and insurance intermediaries that have notified the Commission of their intention to operate in the territory of EU Member States under the conditions of the freedom to provide services or the right of establishment.

Between March 1 and 31, 2026, the FSC received 24 notifications from Member States' competent authorities regarding the intention of insurers and insurance intermediaries with registered offices in other EU countries to operate in Bulgaria under the freedom to provide services. These include notifications on expanding the scope of business or providing updated information about changes in addresses, representatives, or other circumstances.

During that period, one notification was received regarding the intention of an insurer based in an EU Member State to operate in Bulgaria and one notification withdrawing such an intention. By March 31, the number of insurance companies based in other EU and European Economic Area countries that have notified the FSC of their intention to operate in Bulgaria remains unchanged at 434.

In March, the FSC received 12 notifications from competent supervisory authorities of EU countries regarding the intention of insurance intermediaries based in EU Member States to carry on insurance intermediation business in Bulgaria and six notifications withdrawing such intentions. By March 31, the number of insurance intermediaries based in EU countries that have declared their intention to operate cross-border in Bulgaria increased to 2,470, the regulator stated.

In the March 1-31 period, no notifications were sent regarding the intention of a local insurer to start or expand the scope of its cross-border business, and the number of local insurers that have declared their intention to operate in other EU Member States this remains unchanged at 22.

During the same period, the FSC sent one notification regarding the intention of a local insurance broker to start cross-border operations and one notification from another local insurance broker to expand the scope of its business. As a result, the total number of local insurance intermediaries that have declared their intention to operate cross-border changed to 77, the Commission reported.