16 Feb DallBogg: We Continue Paying Claims Domestically and Abroad Despite the Wave of Unfounded Accusations

The Financial Supervision Commission (FSC) has been acting around the clock against DallBogg. Over the past 145 working days, it has sent more than 230 letters, requests, orders, and coercive measures – some every two hours, others with a one-day deadline, and still others demanding tons of information covering the past 10 years. No European insurer has been attacked so extensively and so unjustifiably by a national regulator.

The latest round of the campaign against DallBogg includes systematic overexposure of complaints by beneficiaries of insurance services, which have consistently been manipulatively assessed purely as a number of complaints, without taking into account the nearly 1.5 million active policies across all European markets of DallBogg as of July 1, 2025, when the FSC unjustifiably suspended cross-border sales. Since then, the FSC – unlike any other regulator against any other insurer—has conducted an aggressive and systematic administrative campaign aimed at financially suffocating the insurer. By overemphasizing alleged weaknesses in market conduct – below the average level for all markets and in some cases entirely absent, such as in Spain and Greece- on October 2, 2025, the FSC abused its extended powers to extend the ban indefinitely.

The anonymous author of the article claims that “nearly 400 reports, from Romania and Italy alone, were submitted to the supervisor over the past 20 days.” Before the effective entry into force of the foreign sales ban, DallBogg had 509,000 active MTPL policies in those countries. The cited 400 reports represent a negligible approximately 0.07%. Moreover, it is conveniently omitted that complaints from local regulators (ASF in Romania and IVASS in Italy) are sent once directly to the insurance companies and a second time via the FSC. This is precisely the kind of manipulative “strategy” the Bulgarian regulator uses in its deliberate attempt to discredit DallBogg before insured persons and the public by artificially duplicating the number of incoming complaints.

Against the backdrop of the multimillion MTPL insurance market in Bulgaria for all insurers – 3,712,725 active policies as of February 10, 2026 – the claim that 100 complaints against DallBogg constitute a “wave of complaints” is, to say the least, exaggerated.

There is an obvious lack of concrete, fact-based arguments. The financial and reputational damage to the insurer, however, is entirely real. Is this a way to clear the path for new players in the Bulgarian market? Or is it personal hostility by the leadership, or commissioned administrative arbitrariness? Time and the competent courts will determine that. Until then, one of the latest examples, contained in an FSC letter dated February 5, 2026, is self-incriminating:

“The complaints register maintained by UKNF shows that as of the end of November 2025, ‘DallBogg: Life and Health’ JSC remains the second insurance company by number of complaints […] with 12% of the total number of complaints […]. By comparison, complaints against the market leader account for 20–22% of all complaints, while the share of the third company is around 8%.”

Despite these figures, the Bulgarian regulator has imposed a number of administrative sanctions on DallBogg, including a ban on selling policies, while the company with the highest percentage of complaints in Poland continues to operate undisturbed. The pressure from the FSC in recent weeks has become particularly hysterical, likely due to the dwindling days of the current cabinet, and the fabricated smear campaigns are now being extended to other companies within the DallBogg group. The cases described in the media as “alarming complaints” from anonymous employees are well known to all leasing and loan recipients and represent standard practice in the country’s banking sector.

Nevertheless – and to the complete surprise of the FSC, EIOPA, and the influenced regulators in Poland and Romania – DallBogg reported record capitalization at the end of 2025, with solvency exceeding 177%.

The FSC blocked the registration of the capital increase through various unlawful tactics, including filing an insinuated court claim and issuing an unlawful coercive measure to the Central Depository, thereby continuing attempts at financial suffocation and public discrediting of the insurer. The administratively imposed increase in DallBogg’s insurance prices in Bulgaria also serves this purpose—not because the company was selling at the lowest prices, but simply because it is preferred by motorists.

Once again, and despite all of this, DallBogg duly and consistently continues to pay claims in Bulgaria and abroad and to combat established insurance fraud.