![\"BAEZ](\"https:\/\/cfi.co\/awards\/wp-content\/uploads\/2026\/07\/BAEZBulgarianExportInsuranceAgency.jpg\")
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BAEZ, Bulgaria’s state export credit agency, issued a \u20ac3m guarantee on 5 June 2026 to reinsurers of motor third-party liability (MTPL) cover for the country’s international hauliers. Four days later the Financial Supervision Commission withdrew the licence of DallBogg: Life and Health for failing the Solvency II minimum capital requirement, its recovery plan refused. BAEZ puts DallBogg’s book at roughly 20,000 of Bulgaria’s 55,000 haulage trucks; cover had reached \u20ac3,300 a vehicle.<\/strong><\/p>\n BAEZ holds no licence for MTPL or reinsurance, so it guarantees rather than underwrites: it meets delayed reinsurer payments and retains recourse for anything it pays. Its liability attaches only above a loss ratio of 120 to 150 per cent; below that, risk stays wholly with private reinsurers. It runs to 4 June 2027.<\/p>\n All 17 licensed companies were invited, competing on end-user price and commission; one took up the terms. Cover now renews at \u20ac2,000, with 1,204 trucks insured in the scheme’s first month. BAEZ annualises that to 15,000 vehicles and a \u20ac19.5m sector-wide saving. The process was open; delivery rests on one balance sheet.<\/p>\n Dual authority under the Insurance Code and Export Insurance Act lets BAEZ combine its own balance sheet with state-backed cover. It also guarantees 85 per cent of working-capital lending to smaller operators, taking only exposures performing before fuel costs rose: it insures the shock, not pre-existing distress. A proposed \u20ac250m cover for a large leasing company would free the same sum for new lending, though central-bank treatment of rescheduled exposures has slowed it.<\/p>\n Euro accession in January invites comparison with European peers, and this one stands up to it. What earns the recognition is construction and timing rather than scale: a bounded, recoverable guarantee, openly allocated and dated, available before the book needed re-placing. The construction travels; the loss of a dominant carrier is a risk any small market runs.<\/p>\n The Capital Finance International (CFI.co) Judging Panel congratulates BAEZ on winning the Excellence in Export Credit Liquidity Support Europe 2026 Award.<\/p>\n","protected":false},"excerpt":{"rendered":" BAEZ, Bulgaria’s state export credit agency, issued a \u20ac3m guarantee on 5 June 2026 to reinsurers of motor third-party liability (MTPL) cover for the country’s international hauliers. Four days later<\/p>\n","protected":false},"author":9,"featured_media":13545,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[35,5,37,11,53,38,14,31],"tags":[],"class_list":["post-13546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-europe","category-fdi-agencies","category-finance","category-front","category-government","category-industries","category-transport"],"yoast_head":"\n