Bulstrad Vienna Insurance Group

What Bulstrad Vienna Insurance Group does

Bulstrad Vienna Insurance Group is a Bulgarian general insurance carrier headquartered in Sofia, founded in 1961 and operating under the legal name ZEAD Bulstrad Vienna Insurance Group. Since April 2007 it has been a majority-owned subsidiary of Vienna Insurance Group (VIG), a publicly listed Austrian insurer with over 190 years of history, giving Bulstrad access to international insurance expertise, capital strength, and EU-aligned best practices. The company offers more than 100 insurance products spanning motor (MTPL, Casco Standard, Casco 100, Green Casco for EVs, Motor GAP, road assistance), property (comprehensive property, SME packages, Bonus Home, Business Solution), liability (public, product, employer, hotelier, professional indemnity), personal accident and travel, transport (cargo, carrier liability, aircraft, vessels), agricultural (crop, livestock), and bancassurance/embedded affinity insurance. It serves close to one million individual and corporate clients in Bulgaria.

Bulstrad's core technology consists of an insurance platform supporting online sales (online.bulstrad.bg), claims management, and customer self-service, with the Bulstrad Ready mobile app enabling online registration of Casco and Property claims and processing within two working days. A GPS-enabled 24/7 customer service center operates ten proprietary repatriation vehicles and coordinates with 30 partner companies running more than 50 repatriation vehicles, delivering roadside assistance within 60 minutes anywhere in Bulgaria. The company holds ISO 9001 certification (December 2025) and partial WCAG 2.1 conformance for its digital properties.

The business model is built on recurring insurance premiums across multiple product lines, with flexible payment terms (lump sum or up to four annual installments) and premium-based revenue mechanics. Bulstrad distributes through a multi-channel architecture: an extensive branch office network covering more than 50 Bulgarian cities, a direct-to-consumer online platform, a mobile app, a 24/7 call center (0800 11 111), insurance intermediaries, bancassurance partnerships with leading banks, and embedded insurance via affinity partners in retail, utilities, telecommunications, and sports/fitness. Customer segments span individual consumers, SMEs (with bundled packages starting from 30 BGN), corporate clients, regulated professionals (doctors, lawyers, notaries, auditors), and bank/financial institution partners. The group also encompasses Bulstrad Life, POK Doverie pension insurance, NovaIns, and the shared services entity VIG Services Bulgaria.

Name

Bulstrad Vienna Insurance Group

Legal name

ZEAD BULSTRAD VIENNA INSURANCE GROUP (ЗЕАД БУЛСТРАД ВИЕНА ИНШУРЪНС ГРУП)

Website

https://bulstrad.bg

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

251–500 employees

Short description

Bulstrad Vienna Insurance Group is a Bulgarian general insurance carrier and majority-owned subsidiary of Vienna Insurance Group, offering more than 100 motor, property, liability, travel, transport, and agricultural insurance products to roughly one million individual and corporate clients in Bulgaria via branches, online, mobile, bancassurance, and embedded affinity channels.

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Insurance Carriers (5241), Direct Property and Casualty Insurance Carriers (524126), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399), Accident & Health Insurance (6321)

akta.pro primary industry

Full-Coverage Personal Auto Insurance (FSAJAAAF)

Keywords

• Motor vehicle insurance
• Property insurance
• Business insurance packages
• Travel insurance
• Personal accident insurance

Headquarters

HQ city

Sofia

HQ country

Bulgaria

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premiums: Primary revenue from collecting insurance premiums across multiple product lines including motor, property, liability, personal accident, transport, agricultural, and travel insurance. Premiums can be paid as lump sum or deferred into up to 4 installments during one calendar year.
2. Bancassurance and Embedded Insurance: Revenue from insurance products distributed through bank partnerships (bancassurance) and affinity partnerships with companies from various sectors. Products embedded in purchase journeys of retail, utility, telecom, and other partners.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Bulstrad Vienna Insurance Group is a Bulgarian generalist insurer that underwrites and distributes more than 100 insurance products for individuals, SMEs, and corporate clients. Its portfolio spans motor (Casco and Third Party Liability/Green Card), property (home, household, commercial buildings), personal accident, travel, cargo transport, and agricultural insurance, plus packaged offerings such as Bulstrad Business Solution for SMEs and the My Home home insurance package.

Product overview

Bulstrad Vienna Insurance Group is a comprehensive insurance company offering over 100 insurance products across multiple categories. The portfolio is organized into seven main product lines: Motor insurance (including Casco Standard, Casco 100, Green Casco, Motor GAP, and accident coverage), Property insurance (Comprehensive Property policy, All-Risk Property, Business Solution, SME packages, home insurance), Liabilities Insurance (Public, Product, Employer, Hotelier, Professional Indemnity), Personal Accident and Tourist Insurance (Travel Package, medical insurance, accident coverage), Transport insurance (Aircraft, Vessels, Carrier's Liability, Cargo), Agricultural insurance (Crop and Livestock), and Bancassurance/Embedded insurance. The company operates as part of Vienna Insurance Group with a history spanning over 55 years, serving approximately 1 million individual and corporate clients in Bulgaria.

Differentiator

Problem solved

Functional benefit

Brands

• Bulstrad Life: Life insurance subsidiary of Bulstrad Vienna Insurance Group
• Bulstrad Ready
• BULSTRAD BONUS HOME
• Bulstrad Business Solution
• Green Casco
• Casco Standard
• Casco 100
• Bulstrad Travel Package

Quantifiable outcome

• 24/7 road assistance available within 60 minutes anywhere in Bulgaria
• +2 more outcomes

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature2 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Bulstrad Life Vienna Insurance GroupcoreOthersLife insurance subsidiary of Bulstrad Vienna Insurance Group operating under the same parent company VIG.
• VIG Services BulgariacoreOthersOperational services subsidiary providing shared services to the VIG group companies in Bulgaria.
• POK DoverieminorOthersPension insurance company, part of the Bulstrad VIG group of companies.
• NovaInsminorOthersInsurance company operating as part of the Bulstrad VIG group.
• Leading Banks and Financial InstitutionscoreChannel Partner/ Reseller/ DistributorBancassurance partnerships with leading banks and financial institutions offering integrated insurance products as part of banking services. Combines international experience of Vienna Insurance Group with local expertise to provide risk management and added value solutions.
• Affinity Partners (Retailers, Utilities, Telecom, Sports)minorChannel Partner/ Reseller/ DistributorEmbedded insurance partnerships with companies from various sectors including retailers, utility providers, equipment manufacturers, telecommunications operators, non-bank financial institutions, and sports/fitness centers. Insurance is embedded directly into the purchase journey.
• Road Assistance Partner CompaniesminorOthers30 partner companies operating over 50 repatriation vehicles providing road assistance services across Bulgaria. Partners equipped with vehicles meeting Bulstrad's high standards for assisting customers.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Generali Group: Large European multi-line insurer with a Bulgaria presence. Comparable at parent-group level on portfolio breadth, life+P&C bundling and asset-management-supported underwriting.
• Vienna Insurance Group (VIG): Bulstrad's parent company and one of the largest CEE insurance groups. Comparable at the group level as a multi-line, multi-country P&C and life carrier; useful for benchmarking capital allocation, reinsurance and pan-CEE product strategy.
• Allianz SE: Global multi-line insurance leader with Bulgarian operations. Comparable at the incumbent-group level on broad product portfolio, bancassurance partnerships and digital claims investments.
• HDI V.a.G. (Talanx Group): German multi-line insurer with European P&C and life operations. Comparable as a continental European broad-line carrier with similar focus on SME and consumer segments.

Emerging players

• ERGO Group (Munich Re): European multi-line insurer (part of Munich Re) with growing CEE footprint and notable digital/embedded insurance investments. Comparable overlap on product lines and increasingly on the digital distribution models Bulstrad is investing in via Bulstrad Ready.

Direct peers

• Groupama Bulgaria: Bulgarian subsidiary of Groupama (France), offering personal and commercial P&C and motor lines. Comparable multi-channel distribution (agencies, partnerships, digital) and similar target segments to Bulstrad.
• UNIQA Insurance Group: Austrian multi-line insurer with a leading CEE and Balkans footprint including Bulgaria. Closest comparable: similar Vienna/parent heritage, broad product mix (motor, property, life), and parallel distribution model of agencies, bancassurance and digital channels.
• Generali Bulgaria: Generali Group's Bulgarian operations spanning P&C, motor and life insurance. Directly comparable on product portfolio and customer segments (individuals and SMEs), drawing on a similar European multi-line heritage.
• Euroins Insurance Group (Eurohold): Bulgarian-headquartered multi-line insurer competing directly in motor, property and travel insurance. Comparable geographic concentration and product set, with parallel push on agency and digital distribution in Bulgaria.
• Allianz Bulgaria: Bulgarian subsidiary of Allianz Group offering motor, property, liability and life insurance. Directly competes with Bulstrad across consumer and commercial segments in Bulgaria with similar product breadth and reliance on agency + digital channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries4 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 Bulstrad Vienna Insurance Group