In connection with Bulgaria’s upcoming accession to the euro area and the introduction of the euro as the official currency, and in compliance with the Law on the Introduction of the Euro in the Republic of Bulgaria, we would like to inform you that I&G Insurance Brokers Ltd. is already adapting its systems, products, and processes to ensure full compliance with the new regulatory requirements.
🔁 As of 08.08.2025, all prices will be displayed in both BGN and EUR. The conversion will be done using the fixed exchange rate set by the Bulgarian National Bank:
1 EUR = 1.95583 BGN
📐 How is the value in euro calculated?
When converting, the amount in BGN is divided by 1.95583. The resulting amount is rounded to the second decimal place, as follows:
➖ If the third decimal digit is less than 5 – the second digit remains unchanged;
➕ If the third decimal digit is 5 or more – the second digit increases by one.
✔ Fixed exchange rate – 1 EUR = 1.95583 BGN
✔ Automatic recalculation – no annexes or actions required from clients
✔ Dual price display – until 12 months after the euro is introduced
✔ Dual circulation period – January 2026 (both BGN and EUR will be legal tender); afterwards – only EUR
✅ Your existing policies remain valid – no changes needed
✅ New policies issued after 01.01.2026 will be in EUR only
✅ Installment payments will be recalculated in EUR, with no change in actual value
✅ All payments, including compensation, will be made in EUR via bank transfer
💡 We already display dual pricing (BGN and EUR) for insurance policies, including installment payments.
📞 If you have questions regarding your current policies or wish to purchase a new insurance policy related to the euro transition – do not hesitate to contact us!
🔔 Stay tuned to the "News" section of our website and our social media channels, where we’ll be sharing updates, useful tips, and important information related to the introduction of the euro in Bulgaria.