Банкеръ Weekly

Briefs

BULGARIA JOINED CEI

On June 18 the Council of European Insurers (CEI) accepted the Association of Bulgarian Insurers (ABI) as its 7th associated member, ABI's Chairman Venislav Yotov announced from Prague. The General Assembly of the council was held June 17-19 in Prague. The council is an organization of the national associations of insurers and reinsurers, operating in Europe. Its headquarters are in Paris and part of its activities are carried out in Brussels. The council has 25 full-fledged members from the EU countries and the associated members are: Estonia, Croatia, Lithuania, Latvia, Slovenia and Slovakia. The council's policy it to protect the interests of the insurance industry and tolerate free competition between the entities, operating on that market. Therefore, its aim is to present the common European interests in the sphere of insurance. The CEI also assists relations with other public and European international organizations, whose activities are connected with the insurance business, by presenting the opinion of qualified European experts. Another task of the council is to support cooperation between all its members. This is effected through exchange of information and experience between the national insurance markets, making research and analyses for improving the services provided to the insured, participation in economic and social debates on issues of interest to the insurers. ABI's acceptance in that prestigious European branch organisation is an acknowledgement of the Bulgarian insurance sector and of the association itself. Representativeness of the association and an insurance market based on free competition are conditions for membership in CEI.The ABI has an 11-year old history. It was registered in 1993 as the only professional organisation of insurance companies, with 30 licensed members. Twenty of them operate in the sphere of general insurance, eight - in life insurance, and there are two life insurance cooperatives. Six permanent commissions operate within the association. Their activities are orientated to solving various problems of the day, including those originating from the imperfection of legislation.

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