On June 9, 2026, the Bulgarian Financial Supervision Commission (FSC) decided to revoke the operating license of the insurance company “INSURANCE JSC DALLBOGG: LIFE AND HEALTH.”
This decision marks a significant development in the regulatory oversight of the company and aims to protect the interests of policyholders.
The decision follows previous supervisory measures, namely: a) the FSC’s decision of June 10, 2025, prohibiting operations in all insurance sectors, in all Member States where Dallbogg operates under the freedom to provide services, including Greece (with the prohibition taking effect on July 1, 2025), b) a decision dated October 1, 2025, with immediate effect, imposing an indefinite ban, and c) a decision dated April 2, 2026 (with immediate effect) prohibiting the issuance/renewal of insurance policies across all insurance sectors in Bulgaria, to ensure effective consumer protection and fair treatment of all policyholders.
The FSC has worked closely with the National Supervisory Authorities of the EU/EEA member states, where Dallbogg distributes its products, to protect the interests of policyholders.
Further information:
- On June 10, 2025, the FSC imposed a temporary ban on the issuance of new insurance policies or the renewal of existing ones that would be entered into in EU/EEA member states with Dallbogg, which operates under the freedom to provide services, across all insurance sectors, effective July 1, 2025, for a period of three (3) months.
- On October 1, 2025, the FSC issued a new prohibition, with no time limit, against the aforementioned insurance company due to persistent and newly emerging problems.
- Taking into account the ongoing issues and the company’s failure to resolve them, on April 2,2026, the FSC issued a decision with immediate effect, imposing a ban on the conclusion of new insurance or reinsurance contracts for all insurance lines within the territory of Bulgaria.
- Based on the above, the FSC initiated the procedure for the application of a compulsory administrative measure, under which the insurance company was required to prepare a realistic short-term plan to restore its solvency and submit it within one month of the expiration of the deadline for filing objections.
- The FSC received the short-term plan and assessed it as inadequate. For this reason, on June 9, 2026, the FSC decided to revoke the operating license of the insurance company named “INSURANCE JSC DALLBOGG: LIFE AND HEALTH” (LEI 529900ID0B7FXUHGP023).
See here the “Q and A’s” translated into Greek.