Bulstrad Plc is the first “rated” insurance company in Bulgaria
The Bulgarian Credit Rating Agency (BCRA) and the Indian Credit Rating Agency assigned ratings to Bulstrad Plc (Claim-Paying Ability), Pension Insurance Company Doverie (issuer rating), Universal Pension Fund Doverie, Professional Pension Fund Doverie and Voluntary Pension Fund Doverie (Pension Fund Ratings).
Bulstrad is the market leader in General Insurance in Bulgaria. BCRA assigned A- to the Claim- Paying Ability of Bulstrad. Doverie is the second largest pension insurance company with strong positions in the mandatory pension insurance. BCRA assigned an issuer rating of BBB+ to Doverie. The pension funds managed by Doverie were evaluated for their investment and management quality. The three funds managed by Doverie received A- ratings.
The rating certificates were delivered at an official ceremony to Mr Roumen Yantchev – chief executive of Bulstrad Plc and Mrs Daniela Petkova – chief executive of POC Doverie.
“Each company has its own image and history. Bulstrad Plc is the insurance company which has the largest market share in the non-life insurance market in Bulgaria and the first Bulgarian insurance company, which obtained a rating. We consider the assignment of such rating a positive step, moreover Bulstrad has become a public company”, said Roumen Yantchev.