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Bulstrad Vienna Insurance Group EAD (Bulgaria)

Main Activities: Direct Property and Casualty Insurance Carriers
Full name: Bulstrad Vienna Insurance Group EAD Profile Updated: September 13, 2022
Buy our report for this company USD 29.95 Most recent financial data: 2021 Available in: English Download a sample report

Bulgarian general insurance company Bulstrad was established in 1961. The company is specialised in aviation, marine, cargo and property, motor insurance, construction risks insurance, personal and other insurance lines.
In 1994, the insurer launched a life insurance company called Bulstrad-Life. Another subsidiary - Bulstrad Services and Consulting was set up in 1998 to provide various services, including rent-a-car. In 2003, Bulstrad established a health insurance arm, which offers voluntary health insurance to individuals and corporate clients.
In July 1999, Bulgaria's Finance Ministry sold a 31% stake in Bulstrad to a locally-registered company TBI - where Israeli Kardan Group controlled 60% - for USD 7.61 million. Several months after the deal, TBI controlled a 51% stake in the insurer. In February 2000, the stake of TBI in Bulstrad was transferred to a newly established company called Bulgarian Insurance Group (BIG). BIG was co-owned by TBI Holding (a joint venture of Kardan and Deutsche Bank private equity) and the European Bank for Reconstruction and Development (EBRD).
May 2007, Austrian insurance company Vienna Insurance Group (VIG) acquired 60% of TBIH Financial Services Group and thus became an indirect owner of Bulstrad with 58.4%. April 2009, VIG raised its stake to 77.08% through a sequence of indirect participations. The same month Bulstrad Insurance was renamed to Bulstrad Vienna Insurance Group.
Bulstrad Vienna Insurance Group offers more than 100 different types of insurance products and operates a network of branch offices across the whole country.

Headquarters
5 Pozitano Sq.
Sofia; Sofia - city; Postal Code: 1000

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Website: http://www.bulstrad.bg/

Basic Information
Total Employees:
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Outstanding Shares:
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Registered Capital:
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Financial Auditors:
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Incorporation Date:
December 17, 1992
Key Executives
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Executive Director and Member of the Management Board
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Executive Director and Member of the Management Board
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Executive Director and Member of the Management Board
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Executive Director and Member of the Management Board
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Executive Director and Member of the Management Board
Ownership Details
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100%
Subsidiaries
Bulstrad Life Vienna Insurance Group EAD
100%
European Insurance and Reinsurance Brokers (United Kingdom)
100%
Nova Ins Insurance Company EAD
100%
Company Performance
Financial values in the chart are available after Bulstrad Vienna Insurance Group EAD report is purchased.
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Key Financial Highlights
Annual growth percentages for latest two years in local currency BGN. Absolute financial data is included in the purchased report.
Net insurance premium revenue
7.95%
Operating profit (EBIT)
54.75%
Net Profit (Loss) for the Period
55.76%
Total assets
3.49%
Investments
3.85%
Receivables
22.83%
Total equity
-5.61%
Return on Equity (ROE)
10.06%
Loss Ratio
4.74%
Underwriting Expenses Ratio
0.35%

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