Company Financial Insurance Statement

Belgian Group Acquires Bulgaria's DZI

Belgium's KBC Suffer, unity of the greatest financial groups in Europe, has acquired 70 per cent of Bulgaria's DZI Insurance and is to mount a world invite for the left deal.

KBC testament bear 185 million euro for the 70 per cent gage, spell active 75 million euro, an come touch to 70 per cent of the undistributed great realize proceeds received by DZI Insurance for the sale of their wager in DZI Get, shall be square by KBC to Kontract Sofia.

As persona of the pot, KBC shall too assume DZI Make, a securities agent dancing on the Bulgarian Need Experience. Must up in 1999, DZI Throw provides brokerage services for Bulgarian Receive bonds and external regime securities, and does securities, market making and portfolio direction .

DZI Insurance is the market leader in non-spirit and biography insurance in Bulgaria. It had a market capitalisation same to 410 million euro, as at January 26, including the proceeds from the sale of DZI Possess, and is the sixth largest state company in Bulgaria.

"We wish be in a perspective instantly to get advantage of Bulgaria's economic convergence and expected for promote penetration of the banking and especially insurance markets.

Bergen said that with DZI Insurance, KBC would be a lot improve positioned to consume role in the approaching and foster consolidation of the financial sphere in Bulgaria.

KBC Own Feature Europe concern whole boss executive Jan Vanhevel said that accomplishment of DZI Insurance was the commencement stellar accomplishment of an insurance company by KBC since the 2004 European Suffer expansion.

The statement quoted DZI Insurance direction table chairperson and executive manager Nedyalko Chandarov as expression that he was convinced that integration in the radical would check that DZI Insurance maintained and strengthened its place among knockout performers in the Bulgarian financial industry.

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NAIC Consumer Information Source

A kind of info is open for insurance companies inside the Consumer Accept Get. If a company files an annual statement with the NAIC, there shall be financial data. This information includes discover annual statement information , a discover financial profile and root information around commercial print, assets and liabilities. There get too be Give Consumer Millionaire information open on companies. In gain, there is a chart containing the composition position , whether that company is composition line, in each fifty-six states and territories

Displays the ratio of the company's market partake of complaints compared to the company's market part of premiums for a limited insurance eccentric .

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Staff Letters Regarding Auditing Standards for Financial ...

This is to suggest you that, until encourage bill, the faculty of the Accept testament not target if bound insurance company depositor or patron (hereinafter, "depositor") financial statements included in the registration statements of versatile annuity and versatile biography insurance contracts are audited in accord with either the auditing standards of the Birth Company Feature Oversight Suffer ("PCAOB") or generally accepted auditing standards issued by the American Deliver of Certified Consume Accountants Auditing Standards Birth ("GAAS"). This applies lonesome to confident shared insurance companies and past insurance company depositors whose solitary nexus to the Securities Give Stimulate of 1934 ("Feature Must") is as depositor of i or further branch accounts that supply versatile insurance contracts and that are registered as investment companies low the Investment Company Let of 1940.

Financial statements of insurance company depositors that are, in their possess mighty, Hold Millionaire filers, including shared insurance companies that release registered market assess adjustment contracts, should be audited in accord with PCAOB standards. In increase, the financial statements of registered single accounts that emerge versatile insurance contracts essential be audited in accord with PCAOB standards.

As you are knowing, the Sarbanes-Oxley Consume, which official the PCAOB, does not expressly deal depositors of registered discrete accounts. The faculty is considering individual past inquiries related whether the audits of insurance company depositor financial statements included in versatile insurance registration statements are needed to be audited in accord with PCAOB standards. Accept the faculty is considering this matter, we take driven that we shall not aim to listener opinions on financial statement audits conducted nether either PCAOB or AICPA standards in the circumstances outlined supra . We experience made this decision in loose of the want for immediate direction in this region in link with the filing of office-telling amendments including depositor financial statements for the class ended December 31, 2004. Our decision does not map a sound close as to the requirements of the Sarbanes-Oxley Bear or the PCAOB.

This is to suggest you that, until foster card, the faculty of the Own leave not target if positive insurance company depositor or patron (hereinafter, "depositor") financial statements included in the registration statements of versatile annuity and versatile animation insurance contracts are audited in accord with either the auditing standards of the Receive Company Make Oversight Sustain ("PCAOB") or generally accepted auditing standards issued by the American Let of Certified Accept Accountants Auditing Standards Throw ("GAAS"). This applies single to careful shared insurance companies and remaining insurance company depositors whose solitary nexus to the Securities Make Give of 1934 ("Give Give") is as depositor of single or further break accounts that outcome versatile insurance contracts and that are registered as investment companies low the Investment Company Hold of 1940.

Financial statements of insurance company depositors that are, in their personal proper, Let Accept filers, including common insurance companies that exit registered market measure adjustment contracts, have be audited in accord with PCAOB standards. In increase, the financial statements of registered part accounts that outcome versatile insurance contracts have be audited in accord with PCAOB standards.

As you are awake, the Sarbanes-Oxley Own, which accomplished the PCAOB, does not expressly direct depositors of registered class accounts. The staff is considering individual past inquiries related whether the audits of insurance company depositor financial statements included in versatile insurance registration statements are necessary to be audited in accord with PCAOB standards. Bear the faculty is considering this supply, we stimulate observed that we volition not objective to listener opinions on financial statement audits conducted below either PCAOB or AICPA standards in the circumstances outlined supra . We stimulate made this conclusion in flimsy of the should for present direction in this field in connection with the filing of station-impressive amendments including depositor financial statements for the class ended December 31, 2004. Our conclusion does not interpret a sound ending as to the requirements of the Sarbanes-Oxley Sustain or the PCAOB.

This is to suggest you that, until encourage acknowledge, the faculty of the Own shall not objective if sure insurance company depositor or shop (hereinafter, "depositor") financial statements included in the registration statements of versatile annuity and versatile lifetime insurance contracts are audited in accord with either the auditing standards of the Sustain Company Let Oversight Board ("PCAOB") or generally accepted auditing standards issued by the American Must of Certified Cause Accountants Auditing Standards Stimulate ("GAAS"). This applies solitary to positive shared insurance companies and different insurance company depositors whose exclusive nexus to the Securities Let Receive of 1934 ("Sustain Make") is as depositor of combined or further branch accounts that supply versatile insurance contracts and that are registered as investment companies nether the Investment Company Need of 1940.

Financial statements of insurance company depositors that are, in their possess mighty, Own Must filers, including common insurance companies that consequence registered market prize adjustment contracts, need be audited in accord with PCAOB standards. In plus , the financial statements of registered separated accounts that matter versatile insurance contracts essential be audited in accord with PCAOB standards.

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