HISTORY

The Bulgarski Imoti Insurance Company AD (Joint-stock Company) was set up in 1994 by the decree of Sofia City Court dated 6 April 1994 as a company of a general type.

On 10 August 1998 Bulgarski Imoti received a licence to perform insurance activity by the National Council on Insurance according to the Law on Insurance.

On the territory of Bulgaria 60 offices with over 300 employees have been built and this fact helps realize quick and high-quality services for the clients and compensation payments for damages.

In November 2002 the biggest Austrian insurance company Wiener Staedtische Versicherung AG VIENNA INSURANCE GROUP became a majority owner of the Bulgarski Imoti through buying off the major block of their shares.

On 8 June 2005 at the regular General Meeting of the shareholders of Bulgarski Imoti Insurance Company the main owner, Vienna Insurance Group made a decision to make an investment, and as a result the amount of the equity capital of the Company became 9,308,108 BGN.

The equity capital for Bulgarski Imoti is generally structured as follows:
  • Vienna Insurance Group (VIG) : 99.9%
  • Other persons: 0.1%.

Since 2007 the Vienna Insurance Group has been in possession of two companies in Bulgaria: Bulgarski Imoti Insurance Company and Bulstrad Vienna Insurance Group Insurance and Reinsurance Company.

Bulgarski Imoti and Bulstrad Vienna Insurance Group Insurance and Reinsurance Company will have joined groups servicing the functions of the two companies which cover each other but the companies will continue to develop as independent companies and will act as separate trade names on the market.

The Company has a two-stage management: Supervising Committee and Managing Committee consisting of:

Supervising Committee:
  • Mr Franz Fuchs, Chairman of the Supervising Committee
  • Mr Karl Fink, Deputy Chairman of the Supervising Committee
  • Mr Martin Diviš, member of the Supervising Committee
Managing Committee:
  • Mr Rumen Yanchev, Managing director and Chairman of the Managing Committee
  • Mr Klaus Mühleder, Managing director and member of the Managing Committee
  • Mr Radoslav Dikov, Managing Director and member of the Managing Committee
  • Mr Andreas Schoberwalter, Managing Director and member of the Managing Committee

Wiener Staedtische Versicherung AG VIENNA INSURANCE GROUP was set up in 1824. At present it is the leading Austrian insurance group which maintains a policy of its activity expansion on the markets in Europe.

More than ten years ago Wiener Staedtische Versicherung AG VIENNA INSURANCE GROUP made an expansion investment plan in Central and Eastern Europe as a result of which insurance companies in more than 20 countries have been set up, and they have strong leading positions there.

MANAGEMENT STRUCTURE OF THE BULGARSKI IMOTI INSURANCE COMPANY AD (JOINT-STOCK COMPANY)

FRANZ FUCHS
Chairman of the Supervising Committee

KARL FINK
Deputy Chairman of the Supervising Committee

The Deputy Chairman of the Supervising Committee Karl Fink has been a member of the Supervising Committee of Wiener Staedtische since 1987; the Company was renamed to Vienna Insurance Group in the beginning of 2007. Mr Fink has been working for the Company since 1975. In July 2004 he was promoted to Deputy General Director. Mr Fink manages industrial insurance and reinsurance activities of the Concern. Besides, he is in charge of the business development of the Group in Bulgaria and Russia. Mr Karl Fink is also a Chairman of the Supervising Committee of the Bulstrad Vienna Insurance Group Insurance and Reinsurance Company.

MARTIN DIVIŠ
Member of the Supervising Committee

RUMEN YANCHEV
Managing Director and Chairman of the Managing Committee

Rumen Yanchev graduated from the Higher Financial and Accounting Institute, named after D.A. Tsenov, in the town of Svishtov in 1980, major Insurance. He started work in the same year at the Bulstrad Insurance and Reinsurance Company. He has gone up the whole hierarchic ladder in the Company. He has been repeatedly on training in leading insurance and reinsurance companies in Europe, the U.S.A. and Japan, and there he has a very good reputation. Mr Rumen Yanchev was a managing director of the European Reinsurance Brokers Ltd in London. He has been registered as a broker at the London market. His written and oral knowledge of English and French is very good.

KLAUS MÜHLEDER
Managing Director and member of the Managing Committee

In 1995 Klaus Mühleder graduated from Vienna University of Economics and Business Administration with a PhD in Insurance and Business Administration. He has spent most of his professional career in the financial industry, working for, among others, the Austrian banking group Raiffeisen and the international consulting firm McKinsey & Company. In 2005, he joined Wiener Städtische Versicherung AG Vienna Insurance Group (VIG), where after holding different management positions he headed the Group's Controlling and Planning Division.

In April, 2008 Klaus Mühleder became an Executive Director and Member of the Management Board of IC Bulgarski Imoti JSC. He also acts as an Executive Director of TBI Bulgaria JSC and Bulstrad Vienna Insurance Group Plc.

RADOSLAV DIKOV
Managing Director and member of the Managing Committee

Mr Dikov was born on 29 August 1973 in Sofia. He graduated from the Chemical and Technological University in Sofia as an engineer and from the Technical University in Kemniz, Germany. He finished a brokers’ course at the Bulgarian Association of Licenced Investment Brokers and the University in Delaware, Bulgaria branch. He studied at the Management Centre of Vienna Insurance Group in Austria. Mr Dikov started his carrier in 1998 in the Ulpia Investment Broker. In 1999 he was appointed as an expert in Automobile Insurance at the Allianz Insurance and Reinsurance Company. From 2001 to 2003 he worked in the Central Office of Allianz in Munich, Germany. In 2004 Mr Dikov was appointed as a deputy director of Automobile Insurance in the Bulgarski Imoti Insurance Company AD (Joint-stock Company), then as a director of the same department. Since 2008 he has been a member of the Managing Committee of the Bulgarski Imoti Insurance Company AD (Joint-stock Company).


Andreas Schoberwalter
Managing Director and member of the Managing Committee

Andreas Schoberwalter was born on 16th of May 1964 in Vienna. He made his Master Degrees in "International Business & Marketing" and in "Economics" as well. He graduated 2007 as PhD in Economics. After 20 years of banking business and holding several management positions in Controlling, Risk Management, Organization & IT and as a General Manager of an Insurance Broker, he changed with beginning of 2009 his profession in the financial area and joined the insurance business. Currently he is Executive Director and Board Member for Sales, IT and Marketing for Bulgarski Imoti and holding in Vienna for the Vienna Insurance Group Plc. the position as the responsible project manager for "Solvency 2". He is father of an eight year old son.