During its annual meeting, held June 19, 2019, the Association of Bulgarian Insurers (ABI) adopted a program for the following year and elected a new board, led by Konstantin VELEV as Deputy Chairman.

The structure of the ABI Management Board includes:

• Konstantin VELEV, Chairman of ABZ, CEO of Insurance Company ARMEEC
• Svetla NESTOROVA, CEO of BULSTRAD Life Vienna Insurance Group
• Kiril BOSHOV, Executive Director of Euroins Insurance Group AD and Chairman of the Management Board of Eurohold Bulgaria AD
• Yuri KOPACH, Member of the Management Board and Executive officer of Generali Insurance AD
• Gabriela GENOVA, CFO of GRAWE Bulgaria Life Insurance
• Georgi GEORGIEV, Executive Director of UniCredit Bulbank AD
• Gloria DIMITROVA, Chief Market Manager of Allianz Bulgaria Insurance Company

The new Chairman, Konstantin VELEV, Executive Director of ARMEEC JSC, has over 20 years of experience in the insurance sector and will take over the position held by Svetla NESTOROVA after her two consecutive mandates. VELEV is also involved in the management of the National Bureau of Bulgarian Motor Insurers.

VELEV commented on his new appointment:

"I am accepting the position with full awareness of the high responsibility that I and all our colleagues on the new board of directors have. In recent years, the Association has established itself as an active part in the economic life of the country, and as a unifying body acting in the development of common policies for the progress of the insurance sector. In the strategy and program we adopted, we set important goals, and I am convinced that through their realization we will continue to contribute to the sustainable development of this branch of the economy and the overall economic progress of the society as well."

Svetla NESTOROVA congratulated the new Chairman of the Management Board and said:

"There could not be a better choice for President of ABI, Konstantin VELEV, chosen for his undisputed qualification in the insurance domain. (...) I believe that the new management is the most balanced yet, the insurance sector being united by strategic interests, for the final benefits of Bulgarian citizens."

The Association of Bulgarian Insurers (ABI) was established in 1992. ABI currently unites 30 companies, representing over 93% of the Bulgarian insurance market, with assets amounting to EUR 2.4 billion.