The Financial Supervision Commission (FSC) officially refers the Prosecutor's Office of the Republic of Bulgaria and the National Revenue Agency (NRA) after the revelations of the appointed quaestors about attempts to secretly sell off key assets of the insurance company ZAD “DallBogg: Life and Health“ AD.
At an extraordinary briefing, the regulator's management, represented by Chairman Vasil Golemanski and his deputy Plamen Danailov, announced the discovery of highly worrying circumstances surrounding the company's activities. These revelations occur just weeks after the FSC finally revoked the insurer's license on June 9, 2026 due to an inadequate recovery plan and systemic violations.
Attempts to sell properties and a pension company
The supervisory authority has found serious discrepancies in the company's declared ownership:
- Secret preliminary property contracts: Preliminary contracts for the sale of three key properties of the company (including a site in Vratsa) at greatly reduced prices have been revealed. The documents are dated from the end of March 2026 - a few days before the FSC explicitly prohibited the disposal of the insurer's assets on April 2. At the same time, in its official plan of May 11, “DallBogg“ claimed to the regulator that these properties were its property and would be managed by it.
- Retroactive transfer of the pension company: On the day of the license revocation, the owner “Targovska Liga“ sent a notification that on December 16, 2025, a contract was concluded for the sale of 100% of the pension insurance company “DallBogg“. This deal was completely saved in the monthly reports, although a day earlier the board of directors officially assured the FSC that it would not sell the pension company, as it was a “strategic investment“.
- Cash payment violations: A report has been filed with the National Revenue Agency for the payment of large cash payments on transactions that drastically exceed the legally permissible thresholds for cash payments.
The position of “DallBogg“
The insurance company issued an official position in which they categorically reject the accusations. They defined the regulator's actions as a “conspiratorial campaign to take over the insurer“ and “financial strangulation“. According to them, all asset disposals before April 2 were carried out completely legally, in order to provide liquidity in the interests of clients. The management adds that the pension company was not present in the May recovery plan precisely because it had already been sold, and the FSC is deliberately manipulating the facts.
What is happening to the clients?
The company's treasurers report a "complete organizational chaos" in the information systems and claims processing. However, the FSC assures all over 290,000 clients with policies concluded before April 2 that their contracts remain valid and the damages under them will be paid. The process of normalizing customer service and claims processing is expected to get underway by the end of the week.
Източник: КФН, БНТ, bTV