About Armeec
In the performance of its business activities Armeec Jsc persistently and strictly observes the following principles and rules:
- Honesty and integrity– adherence to the legal and ethical standards in the performance of our duties and obligations;
- Competence and professionalism – high-quality services provided by qualified, dedicated and motivated employees;
- Innovation and effectiveness – prompt and successful identification of customer needs and meeting their requirements.
In compliance with the requirements of Art. 104 para 5 of the Insurance Code and for the purpose of assisting the policyholders Armeec Jsc has adopted Internal Rules for settlement of claims under insurance contracts.
April 1996June 1998July 2002July 2005April 2008August 2011
Armeec Insurance Jsc was established with major shareholders the Ministry of Defence and trade companies from the system of the Ministry of Defence.
Armeec Jsc was licensed to carry out insurance activities in the field of general insurance pursuant to Licence No 7 for performance of insurance activities, issued by the National Insurance Council.
Chimimport AD acquired 91.92% of the company capital. The Ministry of Defence and the trade companies from its system retained 8.08% of the share capital.
Armeec Jsc was granted a licence for performance of reinsurance business.
Armeec Jsc notified the Financial Supervision Commission of its intention to perform insurance activities on the territory of the European Union on a "freedom of services" basis.
The long-term rating of Armeec JSC for its capability to pay claims iBBB (stable perspective) was confirmed by the Bulgarian Credit Rating Agency (BCRA).
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Statement of Changes in Equity
(PDF, 331 KB)
Cash Flow Statement
(PDF, 397 KB)
Balance Sheet
(PDF, 362 KB)
Audit report
(PDF, 468 KB)
Profit and Loss
(PDF, 779 KB)
Statement of Changes in Equity
(PDF, 331 KB)
Cash Flow Statement
(PDF, 397 KB)
Balance Sheet
(PDF, 362 KB)
Audit report
(PDF, 468 KB)
Profit and Loss
(PDF, 779 KB)
Annual report
(PDF, 1.14 MB)
Annual report
(PDF, 3.11 MB)
Annual report
(PDF, 1.95 MB)
Annual report
(PDF, 7.47 MB)
Armeec Jsc is a part of Chimimport Holding, one of the largest holding companies in Bulgaria. Chimimport AD was established more than 60 years ago; over the years it became a large-scale business organization, which incorporated more than 70 affiliated and associated companies performing business activities in various sectors of Bulgarian economy – mainly in the field of transport, finance and manufacturing.
As of February 2012 Chimimport AD held directly or through related parties 92.71% of the share capital of Armeec Jsc.
According to the annual rating of the Capital newspaper for the year 2011 Chimimport Holding was definitely the largest Bulgarian holding in 2010 and it ranked first by profitability. More information on www.chimimport.bg
Management
Tsvetanka Krumova
Rumen Georgiev
Executive Directors
Armeec Jsc has a two-tier management system consisting of Supervisory Board and Management Board. The Supervisory Board consists of three members and it elects the Management Board. The Management Board, on its part, elects the Executive Directors with the approval of the Supervisory Board.Supervisory Board
Chairman- Chimimport AD, represented by Nikola Mishev
- Prof. Nansen Alfred Behar
- Central Cooperative Bank AD, represented by Georgi Konstantinov, Ivaylo Donchev, Sava Stoinov and Tihomir Atanasov
Shareholders and Share Capital
As at 30 December 2010 the paid-up capital of Armeec Jsc was BGN 15 019 000. The share capital is distributed, as follows:- CCB Group EAD 83.60%
- Niko Commerce 4.76%
- Chimimport Invest AD 4.61%
- Chimimport AD 4.30%
- other minority shareholders.
