The Bulgarian Export Insurance Agency (BAEZ) received the award for ‘Insurer of the Year — Most Dynamic Developing Company’ during an official ceremony where the most prestigious annual awards were presented to companies from the insurance and pension sector.
In recent months, BAEZ, which is part of the Ministry of Economy and Industry, has undertaken a series of initiatives to provide more flexible terms and targeted products to export-oriented small and medium-sized enterprises, which were also appreciated by the prestigious forum.
The award was presented to Dr. Galabin Galabov, Executive Director and Chairman of the Board of BAEZ by Vladimir Savov, Deputy Chairman of the FSC, Head of the Insurance Supervision Department. ‘On behalf of the entire team of the Bulgarian Export Insurance Agency and the Ministry of Economy and Industry, thank you for this award. It means that the traditional and innovative products we offer to support small and medium-sized enterprises are effective and this is the direction we will continue to follow,’ said Galabin Galabov. ‘Our top priority will be to continue to assist companies with their business, product and technology development,’ he added.
The event is being held for the 15th consecutive year and is organized by the Higher School of Insurance and Finance (VUZF), the Association of Bulgarian Insurers (ABZ), the Bulgarian Association of Supplementary Pension Insurance Companies (BADDPO), the Prof. Dr. Veleslav Gavriiski Foundation and the Bulgarian Association of Insurance Brokers (BAZB). The winners are determined by an expert jury, composed of representatives of the five organizations, based on objective public criteria and indicators and awards are presented for ‘Insurer of the Year’, ‘Pension Insurance Company of the Year’, ‘Insurance Broker of the Year’ for 2022.
The ceremony was attended by the President of the 49th National Assembly Rosen Zhelyazkov, Deputy Prime Minister and Minister of Labour and Social Policy Lazar Lazarov, Chairman of the Financial Supervision Commission Boyko Atanasov, Chairman of the Board of the Industrial Capital Association Vasil Velev, representatives of the business, scientific and academic circles and others.
‘The Bulgarian Export Insurance Agency has been operating for more than 20 years and was established to encourage and support Bulgarian exporting companies in their efforts to enter international markets, as well as companies trading on the domestic market. The insurance contract is an effective instrument for securing claims in trade, credit and investment transactions and for accessing additional working capital financing.