The Financial Supervision Commission imposed a new ban on “ZAD DallBogg: Life and Health“ AD for cross-border activity in all classes of insurance under the conditions of freedom to provide services in other Member States of the European Union.
The decision was taken today, 01.10.2025, and the term of validity is until the insurer is brought into full compliance with regulatory requirements.
The imposed ban does not affect the insurer's activities in Bulgaria and does not stop the distribution of its insurance products on the territory of the country.
As is known, on July 1, 2025, the company was banned from concluding insurance contracts, extending the term of concluded contracts and expanding their coverage when carrying out cross-border insurance activity, under the conditions of freedom to provide services in all classes of insurance.
The effect of the measure was for three months, and the goal was to enable the insurer to take all necessary measures to synchronize its activities with the regulatory requirements of the relevant Member States in which it operates.
The imposition of the new ban is a result of the FSC's enhanced cooperation with the supervisory authorities of the Member States in which „ZAD DallBogg: Life and Health“ AD carries out cross-border activities, as well as with the European Insurance and Occupational Pensions Authority (EIOPA).
The exchange of information between the regulators shows that despite the measures reported by the insurer to improve the organization of its activities, not all weaknesses, inconsistencies and violations of its market behavior related to the complaints and concerns of the supervisory authorities in the host Member States have yet to be overcome.
In addition, as a result of a series of supervisory actions and measures taken by the FSC, non-compliances of „ZAD DallBogg: Life and Health“ AD with the applicable regulatory requirements for the financial condition of insurers with the right to access the single market.
Therefore, the FSC has taken the relevant coercive administrative measures to achieve the necessary adjustments. This is also the reason why the term of the new ban on cross-border activity has been set until the insurer is brought into full compliance with the regulatory requirements.
The FSC recalls that the measures taken against the company are based on coordinated work with the supervisory authorities of other Member States - Poland, Romania, Greece, Italy and Spain, in enhanced cooperation with EIOPA.
On September 29, the Romanian insurance supervisor ASF decided to prohibit the insurance company “ZAD DallBogg: Life and Health“ AD to conclude new insurance contracts on the territory of Romania, as of October 1, 2025, for an indefinite period.
A ban on carrying out activities in Poland under the mandatory "Civil Liability" insurance for motorists was also imposed by the Polish supervisory authority KNF for an indefinite period, as of April 17, 2025.