System of governance

Insurance Company “Phoenix Re” AD is a joint stock company with a one-tier system of governance established in order to meet the nature, volume and complexity of the company’s activity. Our system of governance has been built with a focus on efficiency, transparency and strict control in order to ensure stable development and high professional standards.

Main elements of the system of governance

Insurance Company “Phoenix Re” AD

The company has been operating in the Bulgarian market since the year of 2000 and offers specialized, insurance and reinsurance servicing in all lines of non-life insurance, including:

Professionalism and reliability in governance

Governance and control over the company’s activity are exercised by the members of the Board of Directors, who possess the necessary qualification, extensive professional experience and well-established reputation in the insurance industry.

Key functions

The company has established four key functions that play a key role for the stability and security of operations:

Risk management: Identification, evaluation and management of risks related to the activity.

Internal audit: Independent and objective control over all processes in the company.

Compliance: Ensuring full compliance with the legal framework and the internal policies.

Actuarial function: Precise calculations and analyses for financial resilience.

System of internal acts

Our system of governance includes a comprehensive set of policies, rules and procedures approved by the competent authority, subject to periodic review and updating, which are adapted to the business activity and internal organization of the processes in Insurance Company “Phoenix Re” AD.

Our mission in governance

The system of governance of Insurance Company “Phoenix Re” AD provides a reliable basis for the provision of quality insurance and reinsurance services, while simultaneously protecting the interest of our shareholders, customers and partners.

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System of governance