The insurance company “Bulgaria” showed strong and steady financial results during the years 1892 to 1904. One clear sign of this success was the regular payment of dividends to its shareholders. These dividends were paid per share and calculated in gold francs, which reflected the company’s solid financial position.
In 1892, shareholders received a dividend of 7.80 francs per share. This amount increased steadily in the following years. By 1895, dividends had risen to 18 francs, and in 1897, they reached a peak of 23 francs per share. From 1898 onward, the company maintained a stable dividend of 20 francs per share almost every year until 1904. This consistency proved that the company was well managed and able to generate reliable profits even during changing economic conditions.
Market Value and State Recognition
By the early twentieth century, the shares of the company “Bulgaria” were quoted at 245 francs (gold) per share. This high market value clearly showed the confidence of investors. In addition, the shares of “Bulgaria,” like those of the insurance company “Balkan,” were officially accepted by State institutions as legal security. This recognition was very important, as it placed the company among the most trusted financial institutions in the country Tours Bulgaria.
Presence of Foreign Insurance Companies in Bulgaria
Alongside national insurance companies, several foreign insurance companies were also operating in Bulgaria during this period. These companies brought international experience and expanded the range of insurance services available.
The “New York” Life Insurance Company
The “New York” Life Insurance Company began operating in Bulgaria in 1887. It specialized only in life insurance. The Bulgarian branch was located in Sofia and worked under the authority of the company’s General Agency for Europe, based in Paris.
The “Union” Insurance Company
The “Union” Insurance Company had been represented in Sofia since 1897. Like the “New York” company, it focused entirely on life insurance. Its Sofia branch was directly controlled by the central administration in Paris.
Other Foreign Companies
The “Phoenix” Insurance Company from London dealt exclusively with fire insurance and maintained agencies in Sofia and Varna.
The “Anchor” (Der Anker) insurance company offered all kinds of insurance and was one of the oldest foreign insurers active in Bulgaria. Its general agency was located in Sofia.
Finally, “Assicurazioni Generali” of Trieste had recently established itself in Sofia, providing both life and fire insurance, with its Bulgarian general agency also based in the capital.