OZK Insurance AD, former Municipal Insurance Company, was set up in 1996 as a municipal firm. The general insurer obtained a local operational licence in June 1998. The company offers various insurance products, such as motor vehicle insurance, personal accident insurance, travel assistance insurance, property insurance, agricultural insurance. OZK Insurance AD is running over 60 branch offices throughout the country.
In early 2006, seven companies controlled by local businessman Hristo Kovachki acquired 20% of the municipal company, which were held by the insurers Allianz, Energia and Avesta Trade. The remaining 80% were held by Sofia municipality and four municipal companies. In 2007, Sofia Municipal Privatisation Agency announced that it will sell nearly 56% of the municipal insurer. In November 2008, LM Impex, controlled by Hristo Kovachki, acquired 65.55% stake of the company for BGN 9.6 million.
ul. Sveta Sofia 7, et. 5
Sofia; Sofia - city; Postal Code: 1301
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