BULSTRAD VIENNA INSURANCE GROUP was founded on 31st July 1961. Since then the company has developed all lines of insurance business, such as aviation and marine, in which we have a leading position on the Bulgarian insurance market; cargo and property, motor insurance, construction-and-erection risks, personal lines and others.
In 1967 BULSTRAD VIENNA INSURANCE GROUP set up a joint-venture brokers company in London. In 1999 the broking company was renamed European Insurance and Reinsurance Brokers.
The company established the following subsidiaries in order to meet the specific needs and requirements of its clients:
- in 1994 - Bulstrad Life JSCo was founded, which specialises in life assurance and offers various life assurance products;
- in 1998 - Bulstrad Services and Consulting Ltd was set up to provide various services, including rent-a-car.
- in 2003 - Bulstrad Health Insurance AD was established (in 2007 renamed Bulstrad Health Insurance AD), which offers voluntary health insurance to individuals and corporate clients.
In July 1999 a contract was signed for the sale of 31% of the company shares to TBIH Group. Within the next seven years TBIH Group (through BZP Group EAD) acquired 97 % from the Bulstrad’s capital.
In the middle of April 2007, the transaction with VIENNA INSURANCE GROUP for the acquisition of the major share of the company’s joint-stock capital, was finished.
BULSTRAD VIENNA INSURANCE GROUP is a member of some prestigious international organizations, such as the International Union of Marine Insurance (since 1974) and the International Union of Aviation Insurers (since 1980).
The Company has established long-term business relations with well-known reinsurance companies in the international market, such as SCOR Reassurance, Swiss Re, Hannover Re, Lloyd's Underwriters and others. Depending on the class of insurance business various reinsurance treaties have been placed to guarantee the financial stability of the company.
Over the years BULSTRAD VIENNA INSURANCE GROUP has been expanding its network throughout the country which provide a great variety of more than 100 different insurance products for the sectors of industry, finance, transport, trade, construction, tourism and meet the consumer needs of various organizations and individual clients. Based on its large expertise and international reputation BULSTRAD VIENNA INSURANCE GROUP traditionally ranks among the leading companies in the Bulgarian insurance market.