The History Of BALKAN
BALKAN has a long history and a well-known name on the Bulgarian insurance market. We are pioneers in this industry and we are still setting standards that are accepted by everyone. We are very proud of our accomplishments and grateful to all the people who helped us get here.
We started a few people in a small office
Balkan Insurance Broker was established as a trading company with shareholders Bulgarian private individuals back in 1998 after the change of the legislation in the insurance sphere, allowing the functioning of the brokerage as an institution;
Yordan Velev: founder of BKB BALKAN:
"... 20 years ago, me and one of my friends from the insurance industry, Rumen Tsonkov, started a real business adventure together ...
Our first office was against the Military Medical Academy, with the size of a room and an entrance hall and with our ambitions to make insurance brokerage useful for clients, and ourselves as pioneers in insurance mediation ... In times when clients not only did not know what is a broker, but they were used to only one insurer, in times when the clients of Bulstrad and MIK (the companies where I started my insurance career in 1991) said “I was with the other DZI, but to see to you how is it ”…
Development of own network of offices and representatives
Since the beginning of 2000, BALKAN started to build and develop its branch network, attracting energetic and respectable professionals for the idea.
The number of offices and offices is growing at a moderate but safe pace.
Our first major recognition. Membership in an international chain
Since November 2006 Balkan Insurance Broker became the only Bulgarian insurance broker, a member of WBN (Worldwide Broker Network) - an international network of independent insurance brokers. WBN is the largest chain of independent insurance brokers in the world and the sixth largest in the ranking of all brokers (including international brokers like Marsh, AON, Willis and EOS risk). Membership in such an organization enables the broker to place risks on the international market, to monitor insurance protection opportunities and trends in corporate insurance worldwide, to use the experience and know- how of its partners in many developed markets that are valuable and applicable for our market, but they are an infinite advantage in the timely implementation of innovations for the fast-growing sectors of the industry.
BALKAN opened its first office abroad: in BUCHAREST
In 2015 Balkan Insurance Broker opened an office in Bucharest, Romania, we currently have 8 employees there.
Balkan Insurance Broker at 20 years
Our premium income for 2018 is over BGN 21,000,000, which places us among the top 20 insurance brokers in the Republic of Bulgaria and gives us a strong position to negotiate with insurance and / or reinsurance companies;
Currently, the brokerage monitors the risk management and insurance needs of more than 10,000 companies nationwide.
Yordan Velev: founder of Balkan Insurance Broker:
"... At present, the Balkans is a business community with a powerful, professional headquarters, fully corporate oriented, its own network of offices that replicate the headquarters business model - strong corporate oriented offices, outstanding insurance professionals, a well-developed franchise network and a fast-growing business outside Bulgaria, not only in Romania but also in Macedonia, Albania ... "
In 2018, the insurance broker BALKAN celebrated its 20th anniversary with an impressive corporate party at SPA Hotel Markovo near Plovdiv.
To mark the celebration were 100 of all over 130 employees of the broker. Yordan Velev: founder of Balkan Insurance Broker:
"... Twenty years are few and many for a company. They are also a pride in successful development, and a pleasure to see how efforts are crowned with success, how many employees, revenue levels grow ...
I am proud to have passed - myself, then myself, through many challenges, through many new practices, some of which introduced the Balkans to get to this point now ...
20 years ago we started two and our turnover was close to zero, now we are 130 people, the turnover of the broker is over 19 million levs a year, operating a branch in Romania, we know about 5 continents, we have clients from 4 continents, Balkan is the third broker in volume in Generali, among the top 10 DZI brokers, has its own insurance products and every year I introduce a new, unfamiliar brokerage practice!
I'm glad we did it all together! "
BALKAN - hosts a prestigious professional forum
BALKAN - hosts a prestigious professional forum
The European Regional Meeting of Members of the World's Largest Insurance Brokerage Chain in January 2020 is hosted by BALKAN.
WBN is an independent association of brokers worldwide with a total premium income of $ 5.53 billion for 2019.
We are its only Bulgarian long-term member with more than 13 years of trust.
Organizing this meeting is a great pleasure for us, but also a challenge.
We take it above all as another recognition of our growth and prestige.
In January, we welcome our foreign partners from all over the world.
At the same time guests of the meeting will be representatives of leading insurance companies such as Zurich, AIG, Lloyds, VIG, Generali, Great American Insurance Group.