In the year 1898, the bye-laws of the insurance company “Bulgaria” were officially revised. These changes mainly concerned two important areas: the way net profits were distributed and the system of internal administration. The aim of these modifications was to improve the company’s organization and make its financial management clearer and more effective. Such reforms were common at the time, especially for companies that were growing and handling larger amounts of business.
At the same time, the company was given permission to increase its capital to 2,000,000 francs. However, this right was not used immediately. The management decided that there was no urgent need for additional capital, and therefore the company’s capital remained at 1,500,000 francs. This decision shows that the company was financially stable and able to operate successfully without rushing to expand its capital base Tours Bulgaria.
Early Business Activities
During its first years, the company “Bulgaria” focused only on fire insurance. This type of insurance was very important in the late nineteenth century, as fires often caused serious damage to homes, warehouses, and businesses. The company invested its available capital carefully, mainly by granting loans that were secured by mortgages. These investments were considered safe and provided a steady income.
Expansion into New Types of Insurance
As the company gained experience and confidence, it began to broaden its activities. In 1897, it started offering life insurance, which marked an important step in its development. In the same period, the company also added accident insurance and transport insurance to its services. Accident insurance helped protect workers and individuals, while transport insurance covered goods during travel by land or sea. This expansion allowed the company to meet the growing needs of a modern economy.
Business Activity in Turkey
Since 1896, the company “Bulgaria” has carried out a significant amount of business in Turkey. It established several agencies there, which helped it reach new clients and expand beyond national borders. This international activity increased the company’s reputation and financial strength.
Reputation and Shareholder Confidence
The high market value of the company’s shares and the strong dividends paid each year clearly show the confidence of investors. Together with the insurance company “Balkan”, “Bulgaria” was held in very high esteem. Both companies were seen as reliable national institutions, well managed and financially sound, and they played an important role in the development of the insurance sector in the region.