General Information

JSIC OZK-Insurance AD (previously known as Municipal Insurance Company AD) was established in 27.12.1996 with a majority shareholder Sofia Municipality. In 2008, the municipality share was subject to privatization.

The Company is among the first insurers licensed for General (Non-life) Insurance - Minutes No. 9 of 15.06.1998.

The Company is a member of the two professional organizations in Bulgaria: The Association of the Bulgarian Insurers (ABI) and the National Bureau of Bulgarian Motor Insurers (NBBMI).

Since 1999, JSIC OZK-Insurance AD has been building a nationwide network of representative offices in the district cities, in addition to offices in other towns.

Today JSIC OZK-Insurance AD is widely represented in all district cities and major municipal centres in the country, with more than 70 locations, including 13 claims centres. The Company's distribution network also includes more than 300 brokers and agents.

The Company holds a license for 12 classes of General (Non-life) Insurance. Based on the licenses obtained, JSIC OZK-Insurance AD has developed and is offerring a variety of insurance products, striving to meet the needs and specific requirements of its clients in a timely and adequate manner.

This includes not only the conclusion of insurance contracts, but also consulting on the most appropriate combination of coverage for the client, combined with a guarantee of competent, expeditious, and correct repair of damage in the event of a claim and provision of the agreed compensation.

The Company has significant market presence in all segments. Our clients include central and local government bodies, higher education institutions, large corporate clients, including financial institutions, representatives of small and medium-sized businesses, and individuals.

Over the years, the Company's market share and premium income have grown steadily, and it has now established itself as a leader in the insurance of public state and municipal property.

The Company reviews its reinsurance program annually based on an analysis of its insurance portfolio and the development of contracts in previous years. Contracts are placed through brokers and reinsurers with whom JSIC OZK-Insurance has been working for years and has built relationships of mutual trust. Reinsurance contracts abroad are placed through leading UK reinsurance brokers with leading reinsurers.