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Insurance product prices are already announced only in euro, after the deadline for their mandatory display in both the single currency and their lev equivalent has expired. After Bulgaria joined the euro area on January 1, 2026, companies, merchants, and all service providers had until August 8 to mandatorily display prices in both currencies. According to the Law on the Introduction of the Euro in the Republic of Bulgaria, as of this date, prices and values when providing financial services may be announced only in euros. This includes all insurance contracts, policies, due premiums, and compensations.
At their discretion, insurance companies and brokers may indicate the lev equivalent in the announced prices for informational purposes. If both currencies are announced, this must be accompanied by a clarification that the lev value is for reference only. Both designations, as before, must be displayed clearly in a way that does not mislead consumers.
Insurers and insurance intermediaries will announce the amount due under insurance contracts and the premiums in euro. This does not change the terms of existing contracts, including any compensations in the case of damages. As before, insurance companies and intermediaries will provide complete and accurate information on premiums, coverages, insurance amounts, and premiums due under installment payments. For contracts concluded before January 1, 2026, the euro equivalent of the premiums is calculated based on the official BNB exchange rate at which Bulgaria entered the euro area – 1.95583 BGN for 1 EUR.
Even after the deadline for dual designation has expired, the rule that price increases must be economically justified continues to apply. Compliance with this rule is monitored by the Financial Supervision Commission.
More useful information for consumers of insurance services and products:
The introduction of the euro and insurance services: QUESTIONS AND ANSWERS.
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