DZI
On 27th June 1946 was voted the Law for Nationalization of the insurance companies and state monopoly on the insurance business. Based on this law, all assets and liabilities of the existing public and cooperative insurance companies, mutual insurance funds, insurance departments of banks etc. are transferred to the State Insurance Institute (DZI). All valid insurances and portfolios, debts, as well as reinsurance contracts preserved their validity and were transferred by rights to DZI. By this act, effectively, were merged the active insurance companies into a bigger one. The state insurance control also ended its activity because the functions of the insurance control were transferred to DZI too.

DZI was created by this law as an autonomous company, juridical entity with headquarters in Sofia and with a complex structure, functioning in this way until 1952 when the establishment of branches and gradual decentralization of the Institutes activity began.

DZI has been the only insurance company in Bulgaria until 1961 when by government decree was created the Bulgarian foreign insurance and reinsurance company "Bulstrad" founded on the existing so far department within DZI. The main shareholder in "Bulstrad" was the Finance Ministry and one of the principal shareholders was DZI itself. "Bulstrad"  was dealing with all insurance contracts  related to obligations outside of the territory of the country – marine, aviation, tourist etc., while DZI kept the monopoly over insurance business inside the country.

In October 1998 DZI was transformed into a public company with 100 % state ownership. On 7th December 1999 in the "State Gazette", issue 107 was published the decision of the Privatization Agency to open a procedure for privatization of the "State Insurance Institute – DZI" Plc. which ended with the sale of the company on 27th August 2002 to Emil Kyulev’s "Contract Sofia" Ltd.

On 10th October 2002 at the shareholders’ General Meeting was taken the decision to rename the "State Insurance Institute – DZI" Plc. to "DZI" Plc.

On 3rd of August 2007 KBC received all needed approval’s documents from regulations authorities and successfully finalized the acquisition of Insurance and Reinsurance Company "DZI - General insurance" Plc. with total amount of the acquired shares reaching 80,457%.

KBC Group is listed on Euronext Brussels (ticker symbol ’KBC’) and the Luxembourg Stock Exchange.
With a market capitalisation of around 36 billion euros, KBC is one of the top Belgian companies and one of the leading financial groups in Europe.

Management Board
Kosta Cholakov - MB Chairman and Chief Executive Director
Geert De Kegel - MB Member
Milen Glushkov - MB Member

Supervisory Board
Marko Voljc - SB Chairman
Johan Daemen - SB Member
Nedyalko Chandarov - SB Member


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