site.btaRegulator Bans DallBogg: Life and Health JSC from New Insurance and Reinsurance Contracts

The Financial Supervision Commission (FSC) has imposed a ban on DallBogg: Life and Health Insurance Joint Stock Company AD from concluding new insurance or reinsurance contracts across all or specific classes of insurance, as well as from extending the terms of existing contracts or expanding their coverage, the regulator said, reporting a decision made on Thursday.

The FSC said the ban is intended to protect the interests of policyholders and to ensure the company's solvency. The measure comes in response to violations of market conduct rules and breaches of the Insurance Code. The bans take immediate effect and will remain in force until the breaches are rectified. The decision does not affect contracts already in place.

The FSC's press release details all measures previously imposed on DallBogg: Life and Health Insurance Joint Stock Company AD, both domestically and by other European regulators.

The FSC imposed a temporary ban on the provision of new and the extension of the term of existing cross-border products and services of DallBogg: Life and Health AD due to market conduct violations and insufficient technical reserves as of July 1, 2025.

The Polish Financial Supervision Authority (KNF) prohibited Bulgarian insurer DallBogg: Life and Health from conducting new insurance business in Poland, including motor third-party liability (MTPL) insurance, effective April 17, 2025, due to market conduct violations.

The Romanian Financial Supervisory Authority (ASF) banned DallBogg: Life and Health AD from underwriting new insurance contracts in Romania, starting October 1, 2025, also for market conduct violations.

The FSC said consumer protection remains its primary priority, implemented through effective oversight and regulatory mechanisms. The regulator said it will continue to enforce the law strictly and sanction anyone attempting to breach it.