Bulgaria

Bulstrad Vienna Insurance Group AD (Булстрад Виена Иншурънс Груп АД)

An EMIS Company Report EMIS is a Euromoney Institutional Investor plc company USD 29.95 Industry: Insurance Carriers Available in: English & Bulgarian Format: PDF Download Most recent financial data: 2016 Buy full report

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Contact Information

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

Tel: +359-2-985-; +359-2-985-; +359-2-985-
Fax: +359-2-985-

Email:
@bulstrad.bg, pozitano@bulstrad.bg

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

Company Description
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.
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