Four of the 18-th insurance companies, which were an object of investigation of Financial Supervision Commission have violated the requirements of the law. The immaculate companies are Bulstrad IRC, IC Bul Ins, IC Levski Spartak, IC Energia, QBE, Municipal Insurance Company, IRC Allianz Bulgaria, IC Armeetz and IC Euro Ins. The violators are MZK Evropa, IC Victoria and IC Orel. The name of the fourth violator is not clear yet. Insurance control department at Financial Supervision Commission has drawn up 14 statements.
Source: Pari (11.02.2004)

On July 5 2004 Raiffeisenbank (Bulgaria) SP JSC financed the purchase of trucks MAN from Eurokamion Ltd. The financing will be implemented at preferential terms – the new car crediting term will be extended – up to 5 years, and the interest rate varies between 8.5 per cent and 10 per cetn annually.
Source: Company information (08.07.2004)

The insurance company Euro Ins JSC – Sofia shall increase it`s capital from BGN 3 million to BGN 4 million at the forthcoming extraordinary shareholders meeting to be held on September 20 this year. The capital shall be increased according article 197, item 1 of the Commercial Code – through transferring part of the 2003 profit into capital. The last years’ positive financial result of the company amounts to BGN 1.544 million, show the data of the Insurance Supervision Division of the Financial Supervision Commission. The increase of capital of insurance companies is due to the forthcoming accession of Bulgaria to the European, where the requirements are EUR 10 million.
Source: Pari (02.08.2004)

The company Evrokamion presented its range of models during the automobile salon Varna 2004. The company is the exclusive official representative of MAN for Bulgaria and is to open its branch in Varna officially on August 30. The new office is located in the city’s western industrial zone, and besides the commercial representation includes also a warehouse for spare parts storage and service.
Source: Duma (27.08.2004)

Insurer Evro Inc decided to raise its share capital to BGN 4.0 million, up from the current BGN 3.0 million at a extraordinary shareholders' meeting, chief executive officer, Ms. Violeta Darakova, said. The move will take place through transformation of part of company's profit into share capital. The company posted a profit of BGN 1.544 million for the last year. The prospective accession of the country to the European Union will oblige insurance companies to have a minimum share capital of EUR 10 million.
Source: Pari (28.09.2004)

Insurance Company Euroins is launching First Casco insurance policy. The policy will cover damages from car accidents up to BGN 1,000. Euroins will offer the insurance as a single product or in package with other products, Mr. Assen Hristov, chairman of the supervisory board of the company, said. In the first case, the premium is BGN 20, regardless of the type of automobile. When taken out along with a Third Party Liability policy, it will cost BGN 139.
Source: Dnevnik (17.12.2004)