Банкеръ Weekly

Briefs

A PRIVATE INSURER WILL BE THE REPRESENTATIVE AT NIC

Atanas Tabov will most probably be the new Association of Bulgarian Insurers (ABI) representative at the National Insurance Council (NIC). Until now the Association was represented at the supreme regulatory body by Dimitar Dimitrov - DZI General Insurance Executive Director. Two months ago Dimitrov left this position and a week ago he left the insurance business completely.
At the Association's General Assembly, which will take place on Monday, May 21, its members will select a new representative at NIC. According to most companies this function will best suit the Chairman of the Branch Association - Atanas Tabov, Allianz Bulgaria Chief Executive Director.
If the Association votes for Tabov, he will be the first representative of a private insurance company at NIC. Besides Dimitar Dimitrov, Borislav Mihailov - DZI JSCo. Executive Director, and Jordan Jordanov - Chairman of Armeez Insurance Co. Supervisory Board, have also acted as representatives.
The National Insurance Council is the body authorised to issue and withdraw licences for insurance activities in Bulgaria. The Council is chaired by the Minister of Finance, and its members are the Minister of Legal Affairs, Minister of Labour and Social Welfare, the Director of the Agency for Insurance and Gambling Supervision and a University Professor.
The General Assembly of the Insurance Association will vote amendments of the Statutes in accordance with the requirements of the Non-for-profit Juridical Persons Act, which came into force on January 1, 2001.

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