On 21 May, Sofia Strategic Finance Forum 2026 brought together representatives of the financial sector, regulators, investors, fintech companies, academia and members of the Bulgarian professional diaspora working in leading international financial centres. The forum was opened by the Vice President of the Republic of Bulgaria, Iliana Iotova. The audience was also addressed by the Deputy Speaker of the National Assembly, Ivan Angelov.
The Association of Bulgarian Insurers (ABZ) was a partner of the high-profile event. Nikolay Stanchev, Chair of the Management Board of ABZ and Chief Executive Officer of Generali Bulgaria, participated in the panel discussion “Volatility as an Asset”, which explored the changing ways in which the financial sector assesses and manages uncertainty.
The discussion also featured Kalin Hristov, Member of the Supervisory Board of DSK Bank and former Deputy Governor of the Bulgarian National Bank; Iliya Lingorski, Member of the Governing Council of the Bulgarian National Bank; Konstantin Dzhengozov, Chief Financial Officer of Payhawk; and Svetla Nestorova, Chair of the Management Board of Doverie Pension Insurance Company. The panellists presented different perspectives on volatility, ranging from the need for stability and regulatory predictability to the opportunities it creates for investment, innovation and the development of new financial models.
During the discussion, Nikolay Stanchev highlighted that insurers are among the most important long-term institutional investors and that the nature of their business enables them to play a largely countercyclical role in financial markets. He noted that the insurance sector traditionally follows a more conservative investment approach, partly due to the capital requirements under the Solvency II regime, which require insurers to hold more capital when taking on higher investment risk.
The Chair of ABZ also noted that the forthcoming changes to the European regulatory framework could create more favourable conditions for institutional investors to contribute to Europe's strategic priorities, including infrastructure projects and innovation.
Commenting on the development of the InsurTech sector, Nikolay Stanchev emphasised that there is significant potential for cooperation between the insurance industry and fintech companies. According to him, digitalisation, automation and the use of artificial intelligence have already become an essential part of the development of nearly all business processes across the insurance sector.
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