Insurances in Allianz Bulgaria Life

Allianz Bulgaria Life

Market share: 22.7% for 2011
Revenue: 56.5 million for 2011
Year of founding: 1992
Number of offices: 38 general representative offices and over 100 representative offices
Products: 14

ZAD Allianz Bulgaria Life was founded in 1992 under the name Bulgaria Life.

In 1998 Bulgaria Holding AD was acquired by Allianz SE Munich – an internationally renowned company working in the field of insurance and financial services. Thus ZAD Bulgaria Life was renamed to ZAD Allianz Bulgaria Life.

ZAD Allianz Bulgaria Life is licensed to offer the full range of insurance products on the market:

  • Endowment insurance – contains both an element of risk and of saving
  • Risk life insurance and Accident – with this type of insurance a certain sum is paid upon occurrence of an insured event. They don’t have an element of saving
  • Deferred life annuity insurance – with a strong element of saving
  • Unit-linked life insurance

The company has 38 general representative offices and over 100 representative offices around the country offering high quality servicing when it comes both to insurance products and to providing current information.

The company’s authorized capital is 8,640,000 BGN, the own capital – 23,637,000 BGN.

The main shareholder is Allianz Bulgaria Holding AD.

ZAD Allianz Bulgaria Life is operated under one-tier management system with a Board of Directors comprising 5 members:

  • Dimitar Zhelev
  • Snezhana Hristova
  • Andrey Alexandrov
  • Miroslav Semizov
  • Plamen Yalamov

In 2011 ZAD Allianz Bulgaria Life had a market share of 22.7% which ranks it first among the life insurance companies in Bulgaria. During the year the company had good results mainly with Endowment insurance - 55.1%, Deferred life annuity insurance – 19.7%, Marriage and Child Endowment Insurance – 7.8%, and Unit-linked life insurance – 11.3% of the company’s portfolio. 

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