Bulgaria’s Financial Regulator Revokes DallBogg Insurance License

The Financial Supervision Commission (FSC) has taken the most severe regulatory action available against DallBogg: Life and Health Insurance Company AD, revoking the insurer’s license to operate. The decision was adopted on June 9 and follows a series of supervisory measures imposed on the company over alleged violations of the Insurance Code and market conduct requirements. The regulator announced that further details would be presented during a special briefing later in the day, attended by FSC Chair Vasil Golemanski, the commission’s deputy chairpersons, representatives of the Guarantee Fund, and members of the insurance sector. ...