Notification of termination of the activity of Piraeus Insurance Broker EOOD

Dear clients,

We would like to inform you, that as of 01.11.2019, Piraeus Insurance Broker EOOD terminates its activities related to the distribution of insurance products, as the company will also be delisted from the registry of insurance brokers maintained by the Financial Supervision Commission.

In order to provide the necessary service related to all insurance policies purchased from the company and in order to prevent any possible termination of the insurance coverage provided by the insurers, Piraeus Bank AD has mandated I&G Insurance Brokers OOD with the rights as of the same date, 01.11.2019, to provide insurance intermediary services, including the service and administration of all already signed insurance agreements/provided individual insurance coverages of borrowers and mortgage loan holders for the guarantees of their loans payable to the Bank pursuant to their loan agreements.

For this purpose, agreements have been signed between Piraeus Insurance Broker EOOD and I&G Insurance Broker OOD; as well as agreements with the insurers and agreements attached to the Group Insurance Contracts between the Bank and Euroins Insurance AD, Nova Ins Insurance EAD, Euroins Life Insurance AD and NN Insurance Hungary (NN Bistosito’ Zrt), via NN Insurance AD, Sofia.

In view of the forthcoming legal merger between Piraeus Bank Bulgaria AD and Eurobank Bulgaria AD, Eurobank Bulgaria AD is also a party in the agreements under the Group Insurance Contracts.

It is only in the Agreement for Group Life Insurance of Borrowers, signed with NN Insurance AD Hungary (NN Bistosito’ Zrt), via NN Insurance AD, Sofia, where the inclusion of insured persons will not be performed with the assistance of a broker. If necessary, and upon the explicit agreement granted by the person subject to insurance, the lender, Piraeus Bank Bulgaria AD, respectively, Eurobank Bulgaria AD after the merger, will provide any necessary assistance related to the inclusion of this person in the insurance agreement.

The above stated changes will in no way affect the conditions of the insurance products currently used by clients.

After the expiry of the insurance/period of individual insurance coverage, in case the conditions of the insurance product provide for the opportunity of renewal/extension of the coverage for another insurance period, the insurance policies will be renewed with the assistance of I&G Insurance Brokers OOD in compliance with the conditions of the respective insurer applicable to customers of Piraeus Bank AD, respectively Eurobank Bulgaria AD. Therefore, all certificates with a starting date after 01.11.2019 and the renewal of insurance/individual insurance coverages, provided with the aim of guaranteeing claims of the Bank related to granted loans, will be issued and serviced by I&G Insurance Brokers, unless customers have clearly stated their disagreement in writing.

If customers express any disagreement, they should commit to duly fulfilling on their own the obligation pursuant to the Loan Agreement to promptly provide valid insurance(s) for the period of the loan until all related repayments have been paid in full.

Information about the users of insurance services, in compliance with Article 325 of the Insurance Code is available on the website of I&G Insurance Brokers OOD -, as well as on paper in any office of the broker.

As the transfer of the service of insurance agreements is also related to personal data processing, you can find detailed information about the conditions and order in which you can exercise your rights in the Rules for Exercising the Rights of Personal Data Subjects of I&G on Ilda Pavlova is the Data Protection Officer, email:, address: 1618 Sofia, 118 Bulgaria Blvd., floor 4.

You can find a notification of personal data processing by I&G Insurance Broker OOD on the broker’s website ( You can also receive the notification on paper in any of the broker’s offices.