What ARMEEC Insurance Jsc does

ARMEEC Insurance Jsc (ЗАД Армеец АД) is a Bulgarian joint-stock non-life insurance company founded in 1995 and headquartered in Sofia. It is a controlled subsidiary of the Chimimport financial group, which holds approximately 95.65% of its share capital as of December 2022 through TsKB Group EAD (80.99%) and Chimimport AD (9.74%). The company operates under a two-tier governance structure (Supervisory Board and Management Board) and is regulated by the Bulgarian Financial Supervision Commission under multiple insurance activity licenses issued between 1988 and 2010.

ARMEEC offers a comprehensive portfolio of approximately 30 insurance products across two primary client segments: individual/retail customers and business/corporate clients. Retail lines include mandatory Motor Third Party Liability (MTPL), Casco, Protected Home, personal accident, travel assistance (Bulgaria and abroad), and mandatory medical insurance for foreign nationals. Corporate lines span property (Protected Property, Industrial Fire, All-Risks Construction/Erection), general and professional liability (notaries, accountants, medical personnel, employers, product, weapons owners), commercial motor fleet, cargo, marine and aviation. Pricing is risk-based and individually rated, with stacked discounts (no-claims, bundled coverage, annual payment, deductibles, and time-bound promotions such as the 40–45% 'Protected Home' discount running June–September 2026) and a 2% statutory insurance premium tax applied on top.

ARMEEC generates revenue primarily through annual insurance premiums and runs a channel-partner-led distribution model combining a nationwide owned branch network (Sofia, Stara Zagora, Varna, Haskovo and additional regional agencies, claims centres, and inspection points), a tied agent/broker network prohibited from representing competing general insurers, an in-house direct sales team for corporate clients, and a growing self-serve digital channel at app.armeec.bg (currently live for travel insurance, with Casco and health under expansion). The company cross-sells with sister entities CCBank AD and CCB-Life EAD within the Chimimport group, including the jointly-issued 'Living and Traveling' combined product. ARMEEC's technology stack is described as standard insurance IT infrastructure supporting online sales, claims registration, premium payment, and 24/7 assistance, with web analytics via Google Analytics and Gemius and digital advertising via Adwise and Google Adsense. No proprietary technology platform, AI/ML systems, or third-party APIs are disclosed.

Name

ARMEEC Insurance Jsc

Legal name

Застрахователно акционерно дружество „Армеец" АД

Website

https://armeec.bg

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

501–1,000 employees

Short description

ARMEEC Insurance Jsc is a 30-year-old Bulgarian non-life insurer and subsidiary of the Chimimport financial group, offering motor, property, accident, travel, and liability coverage to retail and corporate customers across Bulgaria via branches, tied agents, and online channels.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Professional Liability (Errors & Omissions) (FSAJADAB)

Keywords

• Property and casualty insurance
• Motor vehicle insurance
• Travel insurance
• Commercial insurance
• Professional liability insurance

Headquarters

HQ city

Sofia

HQ country

Bulgaria

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Revenue model

1. Property and casualty insurance premiums: ARMEEC generates revenue primarily through insurance premiums charged for its comprehensive portfolio of property, casualty, motor, and personal insurance products. Premiums are charged as one-time periodic fees (annual policies) or single-trip fees, with pricing based on individual risk assessment. The company also collects a 2% insurance premium tax on top of premiums as required by Bulgarian law (Zakon za danak varhu zastrahovatelna premia).

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

ARMEEC Insurance Jsc is a Bulgarian insurance company offering a comprehensive portfolio of general insurance products to both individual and corporate clients. Its offerings span motor insurance (Casco and mandatory Third Party Liability), residential and commercial property insurance, travel insurance, personal accident and health insurance, mandatory professional liability lines for regulated professions, and specialized covers such as cargo, marine and aviation. Distribution is conducted through a nationwide owned branch network, authorised agents and brokers, and a growing online self-service channel.

Product overview

ARMEEC Insurance Jsc (ЗАД Армеец) is one of Bulgaria's leading insurance companies, operating for 30 years as part of the Химимпорт Group. The company offers a comprehensive portfolio of insurance products organized into two main client segments: Individual Clients and Business Clients. The Individual Clients portfolio includes motor insurance (Casco on Motor Vehicles, Third Party Liability for Motorists, Accident Insurance for Seats in Motor Vehicles), property insurance (Protected Home, Protected Family), health and accident insurance (Accident Insurance, Sports Accident Insurance), travel insurance (Travel Assistance in Bulgaria, Travel Assistance Abroad, Trip Cancellation, Medical Insurance for Foreigners), and personal liability insurance. The Business Clients portfolio extends to 15+ specialized categories covering automobiles, property (Protected Property, Industrial Fire, All Risks for Entrepreneurs), accident/health (Accident and Illness, Students Accident Insurance, Work Accident Insurance), tourism and sports (Hotel Guests Accident Insurance, Sports Accident Insurance), general liability (Third Party Liability for Legal Entities, Product Liability, Employer Liability, Weapons Owners Liability), professional liability (Notaries, Accountants/Auditors, Medical Personnel), and specialized lines including agriculture, cargo, marine, and aviation. The company operates through its network of offices across Bulgaria and offers online services for premium payments, claim registration, and travel insurance purchases.

Differentiator

Problem solved

Functional benefit

Products and services

• Casco on Motor Vehicles (Каско на МПС) Vehicle hull insurance covering damage to motor vehicles from natural disasters, fire, theft, road accidents, and other risks, with options ranging from minimum to full coverage. Sold to individual vehicle owners and corporate fleet operators.
• Third Party Liability for Motorists (Гражданска отговорност на автомобилистите) Statutorily mandatory third-party liability insurance for motor vehicle owners in Bulgaria covering bodily injury up to 6,450,000 EUR and property damage up to 1,300,000 EUR per event. For owners of registered vehicles.
• Accident Insurance for Seats in Motor Vehicles (Злополука на местата в МПС) Voluntary insurance covering death, permanent disability, temporary disability over 20 days, and medical expenses for drivers and passengers in motor vehicles.
• Protected Home (Защитен дом) Comprehensive residential property insurance covering buildings, contents, household goods, electronic equipment, and artwork against fire, natural disasters, water damage, theft, vandalism, and earthquake. For homeowners.
• Protected Family (Защитена фамилия) Property and family insurance covering apartments, contents, and optional accident coverage for family members.
• Travel Assistance in Bulgaria (Помощ при пътуване в България) Travel insurance covering Bulgarian and foreign citizens for accidents and illness during trips within Bulgaria, including 24-hour emergency assistance.
• Travel Assistance Abroad (Помощ при пътуване в чужбина) International travel insurance covering medical expenses, emergency dental care, repatriation, baggage loss, and civil liability with 24/7 Bulgarian-language assistance. Available as single-trip or multi-trip policies.
• Trip Cancellation (Отмяна на пътуване) Insurance reimbursing non-refundable travel costs for trip cancellation, interruption, or extension due to medical or non-medical reasons.
• Accident Insurance (Застраховка Злополука) Personal accident insurance covering temporary disability over 10 days and medical expenses for accidents 24/7, valid during work and leisure.
• Sports Accident Insurance (Злополука на Спортисти) Insurance for athletes covering death, permanent disability, temporary disability, and medical expenses during competitions and training.
• Medical Insurance for Foreigners in Bulgaria (Медицинска застраховка за чужденци в България) Mandatory medical insurance for foreign nationals staying in Bulgaria, covering emergency medical care and dental services.
• Third Party Liability for Individuals (Гражданска отговорност на физически лица) Personal liability insurance covering everyday life risks including homeowner, pet owner, and sports activities.
• Passenger Accident Insurance in Public Transport (Злополука на пътниците в средствата за обществен превоз) Mandatory insurance for passengers in public transport covering permanent disability from accidents, available for taxi, bus, rail, cable cars, ships, and aircraft.
• Protected Property (Защитено имущество) Business property insurance covering buildings, machinery, equipment, and inventory up to 500,000 EUR against fire, natural disasters, theft, and other risks. For SMEs.
• Industrial Fire (Индустриален пожар) Industrial property insurance for assets exceeding 500,000 EUR, covering fire, natural disasters, and water damage. For large enterprises.
• Industrial Fire – All Risks (Индустриален пожар – всички рискове) Comprehensive all-risks industrial insurance covering all sudden and accidental damage to business assets. For large industrial enterprises.
• All Risks for Entrepreneurs / CAR Insurance (Всички рискове на предприемача) Construction and erection all-risks (CAR) insurance covering material damages and third-party liability during construction or renovation projects.
• Accident and Illness (Злополука и заболяване) Group insurance for employees covering death, permanent disability, temporary disability, and medical expenses from work and non-work accidents. For corporate clients.
• Students Accident Insurance (Злополука на учащи) Insurance for students, teachers, and staff covering accidents during school, trips, and vacations with free teacher coverage.
• Work Accident Insurance (Трудова злополука) Mandatory and voluntary work accident insurance for employees, covering death, disability, and medical expenses.
• Hotel Guests Accident Insurance (Злополука на гости на хотели) Insurance for hotel guests covering medical expenses, repatriation, baggage theft, and civil liability.
• Hotel and Restaurant Owner Liability (Гражданска отговорност на хотелиера и ресторантьора) Liability insurance for hotel and restaurant owners covering bodily injury and property damage to guests and third parties.
• Third Party Liability for Legal Entities (Гражданска отговорност на юридически лица) General third-party liability insurance for businesses covering bodily injury and property damage to third parties.
• Product Liability (Отговорност на изделието) Product liability insurance covering manufacturers' and traders' liability for damages to consumers worldwide excluding USA and Canada.
• Employer Liability (Отговорност на работодателя) Employer liability insurance covering damages to employees from work accidents.
• Notaries Professional Liability (Професионална отговорност на нотариуси) Mandatory professional liability insurance for notaries covering damages from negligence, errors, or omissions.
• Expert Accountants and Auditors Professional Liability (Професионална отговорност на експерт счетоводители и одитори) Mandatory professional liability insurance for certified accountants and auditors covering damages to clients.
• Medical Personnel Professional Liability (Професионална отговорност на медицински персонал) Mandatory professional liability insurance for medical personnel covering patient damages from negligence.
• Living and Traveling (ЖИВЕЙ И ПЪТУВАЙ) Combined insurance product co-offered with CCB-Life covering frequent travelers against various risks with three coverage tiers, integrating life, health, and travel coverage.

Quantifiable outcome

• Discounts on home insurance can reach up to 50% through stacked promotions (40% base promo, plus no-claims, bundled coverage, annual payment, and deductible discounts)
• +2 more outcomes

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• CCBank AD (Централна кооперативна банка АД)coreStrategic or Co-development PartnerCCBank AD is represented on ARMEEC's Supervisory Board (as a member). CCBank is a related entity within the Chimimport financial group. The two companies cooperate on cross-selling, co-branded products, and shared corporate governance, with CCBank AD also represented on ARMEEC's Supervisory Board alongside TsKB Group.
• CCB-Life (ЗЕАД ЦКБ Живот)coreStrategic or Co-development PartnerCCB-Life is the life insurance company within the TsKB Group. ARMEEC and CCB-Life jointly co-develop and co-sell the 'ЖИВЕЙ И ПЪТУВАЙ' (Live and Travel) combined insurance product, which provides integrated life, health, and travel coverage under a single policy issued by both insurers.
• Insurance Agents and Brokers (Застрахователни посредници)coreChannel Partner/ Reseller/ DistributorARMEEC works with a network of authorised insurance agents and brokers who are official partners of the company. Agents are equipped with identification certificates and trained to assess client needs and recommend appropriate products. They receive commission-based compensation that does not affect the policy premium. The company prohibits its agents from representing competing insurance companies in general insurance.
• Trusted/Authorised Repair Shops (Доверени сервизи)minorChannel Partner/ Reseller/ DistributorARMEEC maintains a network of trusted/authorised repair shops for vehicle damage repair under Casco policies. The company has published lists of these authorised service partners and offers policyholders repair services through these providers with direct payment from ARMEEC.
• Air Bulgaria (Аir.bg)minorOthersAir Bulgaria (air.bg) is a partner company within the Chimimport group, sharing corporate parentage with ARMEEC. Cooperation appears to involve cross-promotional referrals and bundled offerings related to travel and aviation insurance.
• BMW M Car SofiaminorOthersBMW M Car Sofia is an authorised automotive dealership with a shared logo placement on ARMEEC's partner page, suggesting a commercial referral or co-marketing relationship, likely related to motor insurance products and preferred repair networks.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Groupama Bulgaria: Bulgarian subsidiary of French mutual Groupama; provides motor, property, agricultural, and personal/corporate liability insurance in Bulgaria with a similar agent-and-branch distribution profile to ARMEEC.
• Lev Ins (ЗАД Лев Инс): Bulgarian mid-size P&C insurer with a comparable motor and property focus; targets similar retail and SME customers as ARMEEC and is one of the established local alternatives in the Bulgarian market.
• Generali Bulgaria: Bulgarian P&C and life subsidiary of Italy's Generali Group; writes motor, property, accident, and liability lines in Bulgaria with a multi-channel distribution model comparable to ARMEEC's.
• Bulstrad Vienna Insurance Group: Largest Bulgarian insurer and ARMEEC's most direct competitor; offers a comparable full multi-line P&C and life portfolio (MTPL, Casco, property, liability) to individuals and corporates across Bulgaria, and is part of Vienna Insurance Group.
• Euroins Insurance Group (Евроинс): Regional SEE insurer with a strong Bulgarian motor (MTPL) franchise; competes directly with ARMEEC in the highest-volume line and offers adjacent property and travel products.
• Uniqa Insurance Bulgaria: Bulgarian subsidiary of Austrian insurer Uniqa; offers non-life and life products across motor, home, travel, and accident lines for individuals and businesses, directly overlapping ARMEEC's multi-line proposition.
• Allianz Bulgaria: Bulgarian unit of global insurer Allianz; offers motor, property, travel, and personal/corporate liability coverage to Bulgarian retail and commercial customers, competing directly with ARMEEC's product portfolio.
• DZI (Застрахователно Дружество ДЗИ): Major historically Bulgarian state-rooted insurer offering general insurance, life, and health products nationwide; competes head-to-head with ARMEEC in motor, property, travel, and liability lines for both retail and corporate customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@ZAD_Armeec/videos
• Facebookfacebook.com/zad.armeec
• LinkedInlinkedin.com/company/armeec-insurance-jsc

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ARMEEC Insurance Jsc