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ZK "Olympic" with revoked license

NEWS_PUBLISH_DATE 11 May 2018
ZK

Olympic Insurance Company was established in 1995 as a joint stock company in the Republic of Cyprus. "Olympic - Bulgaria Branch" KCHT is licensed for insurance in Bulgaria since 2009.

The decision to revoke the license of Olympic Insurance Company AD was taken by the Ministry of Finance, Insurance Supervisory Authority of the Republic of Cyprus. The company is placed under special supervision and its actions will be monitored by a special administrator - Mazars OOD, responsible for its overall activity, including that in Bulgaria. According to the European legislation, the FSC imposes a ban on Olympic Insurance Company for concluding any new insurances. Olympic has confirmed that the policies issued so far are valid and will be serviced by the insurance company.