The Reinsurance program of BULSTRAD VIENNA INSURANCE GROUP
THE BULGARIAN FOREIGN TRADE INSURANCE AND REINSURANCE COMPANY JOINT-STOCK COMPANY BULSTRAD was founded on 31 July 1961 and has specialized in the insurance of vessels, cargo, aircraft, real estate property held abroad, construction and erections risks of Bulgarian companies abroad, as well as active reinsurance.
Since 1992, the company has been developing all insurance lines such as insurance for motor vehicles, property, various liabilities, cargo, construction and erection risks, personal insurance, as well as aviation and marine insurance, in which it holds the leadership position on the Bulgarian insurance market.
In 1967, the Company registered its broking company in London, EUROPEAN INSURANCE AND REINSURANCE BROKERS (EIRB).
EIRB is a Lloyd’s broker, which connects the company to the London the international reinsurance markets.
To meet the specific needs of its customers, BULSTRAD established the following subsidiaries:
- In 1994 – Bulstrad Life AD was founded, which specializes in life assurance and offers various life assurance products;
- In 1998 – Bulstrad Services and Consulting OOD was set up to provide various services, including rent-a-car.
- In 2003 – Bulstrad Health Insurance AD was established (renamed Bulstrad Health AD in 2007), which offered voluntary health insurance to individuals and corporate clients.
- In April 2009 – Bulstrad Health AD was renamed Bulstrad Health Vienna Insurance Group AD.
In July 1999, a contract was signed for the sale of 31% of ZPAD BULSTRAD’s shares to TBIH Group. Over the next seven years, TBIH Group (through BZP Group EAD) acquired 97% of Bulstrad’s capital.
In April 2007, the transaction with VIENNA INSURANCE GROUP for its acquisition of the major share of Bulstrad’s joint-stock capital was finalized and the company was renamed ZAD BULSTRAD VIENNA INSURANCE GROUP.
The financial stability of BULSTRAD VIENNA INSURANCE GROUP is ensured by the reinsurance coverage purchased for our main insurance lines. Our partners are foreign reinsurance companies with leading positions on the international market and high credit ratings, such as SCOR Réassurance, Swiss Re, Hannover Re, Lloyd's Underwriters, etc.
Over the years, BULSTRAD VIENNA INSURANCE GROUP has been expanding its network across the country, providing a wide range of more than 100 different insurance products servicing the sectors of industry, finance, transport, trade, construction, and tourism, as well as the consumer needs of various organizations and individual clients.
Building on its considerable experience and international reputation, BULSTRAD VIENNA INSURANCE GROUP traditionally ranks among the leading companies in the Bulgarian insurance market.