Management

The bodies of the Guarantee Fund shall be:

  • Council of the Guarantee Fund;
  • Management Board;
  • two Executive Directors.

Composition of the Council of the Guarantee Fund

The Council of the Guarantee Fund shall be composed of all insurers required

to contribute to it:

  • All insurers with a head office in the Republic of Bulgaria and insurers from third countries with a registered branch under the Commerce Act in the Republic of Bulgaria providing compulsory liability insurance of motorists and/or compulsory accident insurance of passengers or insurance under Section I of Annex No 1 of Insurance Code;
  • Insurers from Member States that provide compulsory liability insurance of motorists and/or compulsory accident insurance of passengers in the Republic of Bulgaria under the right of establishment and freedom to provide services shall make contributions to the fund under Article 521, Paragraph 1, point 1 of Insurance Code.

Composition of the Management Board

The Management Board of the Guarantee Fund shall be composed of 7 members:

  • Mr Borislav Mihaylov
  • Mr Orlin Penev
  • Mrs Diana Evstatieva
  • Mr Iuri Kopach
  • Mrs Maria Vasileva
  • Mr Stefan Stoilkov
  • Mr Milen Markov

Chair of the Management Board – Mr Borislav Mihaylov.

Executive Directors

The Executive Directors shall jointly represent the Guarantee Fund and manage its day-to-day operations.

Executive Directors of the Guarantee Fund:

  • Mr Borislav Mihaylov
  • Mr Stefan Stoilkov

Mr Stefan Stoilkov was elected as an Executive Director, who to exercise the powers of the Guarantee Fund severally and to represent it as a receiver in bankruptcy in case of insolvency of an insurer or reinsurer Fund severally and to represent it as a receiver in bankruptcy in case of insolvency of an insurer or reinsurer.