In an interview for BNR – Blagoevgrad, Nina Kolchakova, Secretary General of ABZ, commented on the main issues related to the introduction of the euro and its impact on insurance services. She noted that with the transition to the euro as of January 1, 2026, the only change in insurance documents will be the way monetary amounts are written. The conversion from leva to euro will be carried out automatically by insurers at the official exchange rate, without requiring any action from policyholders.
Existing insurance contracts will remain valid and continue under the same terms and conditions. The only difference is that all amounts will be recalculated and indicated in euros instead of leva. There will be no need to sign new contracts or additional agreements. Kolchakova emphasized that any request made in the name of an “insurer” to sign a new document under the pretext of the euro’s introduction is a sign of fraud, and consumers should report such cases to the Financial Supervision Commission (FSC).
“The conversion from leva to euro in itself will not lead to an increase in insurance prices,” Kolchakova stressed. Other factors determine pricing—such as the probability of risk and loss ratio within the respective business line, operational costs and reserves, as well as general economic conditions.
For contracts concluded after January 1, 2026, all amounts—such as liability limits and others—will be stated in euros. From the same date, insurance claims will also be paid exclusively in euros.
Until August 8, 2026, insurance premiums will be indicated in both leva and euros, although payments will be made in euros. Only during January 2026, in the period of dual circulation, may cash payments still be made in leva.
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