Deputy Head of Financial Supervision Commission resigns over insurance problems

The Deputy Head of Bulgaria’s Financial Supervision Commission, Ralitsa Agayn, resigned from the post. She announced her resignation to journalists in Parliament on 21^st of August.

Agayn attended today's extraordinary plenary sitting, at which she offered her resignation and informed MPs on the Commission's actions in connection with the bankruptcy of the Cyprus-registered insurance company "Olympic", which affected some 200,000 Bulgarians.

Ralitsa Agayn stressed that her resignation was entirely a moral act.

From the parliamentary stand, she stressed that the insurance company has been operating since 2009. "From the beginning of 2018 to 10^th of May, the complaints against this company were 7, for 2017 - 26, and for 2016 they were 16. This is an exceptionally small number of complaints compared to the 10% market share," she said.

Agayn assured that all complaints were dealt with and fines were issued for the cases of identified violations of customer service procedures. The total fines of the company amounted to about BGN 30,000.

"In 2016, I have imposed 342 sanctions amounting to 954,000 BGN, and next year - 697 worth 1.1 million BGN," she said.