POC "Doverie" Български
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"PensionsEurope deeply concerned with developments in Bulgaria"
Pressrelease of the organization PensionsEurope
Declaration by the International Federation of Pension Fund Administrators (FIAP)
"Doverie above all"
Daniela Petkova for the "Forbes" magazine
Solidarity pension systems will not disappear, but will undergo serious reforms
Interview with Daniela Petkova, Chair of the Management Board of PAC Doverie, published in Capital Weekly
Press release Vienna Insurance Group
Unit values data for the day on the new site of PAC Doverie on https://www.poc-doverie.bg/bg
"Doverie" down the years


In 2011 PAC "Doverie" became the first pension assurance company in Bulgaria to reduce the management fees of it's clients in the funds for supplementary mandatory pension insurance, adding another benefit to our members.


PAC ¨Doverie¨ successfully accomplished a training project for all it´s employees in order to increase their competence in seven strategic areas (sales skills, presentation skills, negotiation, customer service skills, time and stress management, management skills and teamwork). The project was implemented with the financial support of the Operational Programme of EU for Human Resources Development and included 40 training courses for more than 220 people.


In 2011 we have opened two internet clubs - part of our programme "Free internet access in small towns and villages" - in Antonovo, Targovishte municipality, and Strumyani, Blagoevgrad municipality.


Following our Corporate Social Responsibility Policy we have also granted our financial support to numerous events like - The Beach volleyball tournament for for children deprived of parental care, The 6-th National Festival for cinematography "Golden Eye" in Popovo, The Uniforms Parade in Koprivshtitsa etc.


For a second consecutive year PAC "Doverie" won the annual prize "Best pension assurance company" awarded by the "Banks, Investments, Money" Foundation. The Company also  received the prize "Pension Insurance Company of the Year 2010" in the category "Supplementary mandatory pension insurance" awarded by the Higher School of Insurance and Finance, the Association of Bulgarian Insurers, "Prof. Dr. Veleslav Gavriiski" Foundation and the Bulgarian Association of Supplementary Pension Insurance Companies.


Daniela Petkova became the first manager of a Bulgarian non-banking financial institution to receive the "Burov" award in the category ‘Financial management".


As of December 31, 2011 the number of persons insured in the pension funds managed by PAC Doverie is 1 261 867 and the AUM - 1 497 165 000 lv. (According to data of the Financial supervision commission.)




The network of offices of the Company continued to expand. Another two were found in Sofia and thus the total number of offices of PAC Doverie reached 58 all over the country. Furthermore, the company's headquarters moved to a new, modern and functional building in Sofia, 13B Tintyava Street.

The Bulgarian Credit Rating Agency (BCRA) confirmed rating (A -) to PAC Doverie AD and the pension funds under its management, their outlook being raised from stable to positive.

As of September 2, 2010 Doverie Voluntary Pension Fund was included in the list of foreign pension schemes recognized by the laws of the respective state (Qualifying Recognized Overseas Pension Schemes). This list is maintained by Her Majesty's Revenue & Customs ("HMRC") for the purpose of transferring funds from a pension scheme registered in the UK into a similar pension scheme in another country that under English law has been approved by HMRC and the listing is a prerequisite for the transfer of funds .

In the sphere of corporate social responsibility PAC Doverie implemented the project "2060." It gave the opportunity to all Bulgarians to share on a special website their forecasts and expectations for the future and their vision of Bulgaria and the world after 50 years. Opinions published on the site were printed in a book that was closed in a "time capsule" placed in the National Library "St. St. Cyril and Methodius " to be open in the future 2060.

Furthermore PAC Doverie AD and the Konstantin Preslavsky University of Shumen signed an agreement for cooperation in the educational, scientific and information fields. The object of that agreement is raising the level of training of lecturers, students, graduates, postgraduates and the staff of the Konstantin Preslavsky University of Shumen and PAC Doverie AD in areas of mutual interest to both parties.

On October 6, 2010 PAC Doverie AD signed an agreement for financial aid from the European Social Fund, through the Operational Programme for Human Resources Development 2007-2013. The main purpose of the agreement is the implementation of the program Enhancing competitiveness by improving the core competencies of the staff of PAC Doverie AD.

PAC Doverie was awarded the prize "Pension Insurance Company of the Year" at the annual awards of the "Banks, Investments, Money" Foundation.

As of December 31, 2010 the number of members of the pension funds of the Company is 1,267,293, and the assets under management exceed BGN 1,323 million. http://www.fsc.bg/



PAC Doverie welcomed 2009, the year of its 15th anniversary, with an updated website http://www.poc-doverie.bg/. First on the market, the Company enabled every customer, after an easy and secure registration, to get access to extremely detailed information on the management of the assets of his/her pension fund or, in other words, how his/her money is managed.


Besides, another important step was made in the development and improvement of the system for effective bilateral communication with the insurance intermediaries - a new section was created just for insurance intermediaries, in which, after registration, they have access to on-line training, the possibility to check their knowledge in the area of pension insurance through interactive tests, individual information about their work and asking questions directly.


In line with the strategy to provide fully accessible, fast and quality service to insured persons in the past year 12 of the company offices in the country were gradually moved to more suitable and convenient places for people and considering the impressive market potential of the city Sofia, another two new offices were opened at the disposal of current and future customers in the capital.


In early February PAC Doverie was accepted as full-rights member to the UN Global Compact, a strategic policy initiative for businesses that are committed to aligning their operations and strategies with the ten universally accepted principles of corporate social responsibility.


In March, at the height of the economic crisis, the Company prooved its stability and made the next significant step towards improving the quality of service to its customers, increasing the number of employees by opening 54 new jobs.


PAC Doverie became again a general sponsor of the participation of the Bulgarian team in the All-Russian Olympiad, handing to the children an award of BGN 3,000, distributed between the winners in the Olympiad in the form of separate prizes. Besides, the Company provided to the National Team the amount of BGN 12,000 to cover the travel and all other expenses necessary for the children's stay in Russia.


In late summer the Company, in the person of the Chief Executive Officer, Mrs. Daniela Petkova, was elected among the ten finalists of the second national competition "Manager of the Year", organized by the Manager magazine with the assistance of the Deloitte international consulting company.


On the tenth edition of the Festival of the Advertising Agencies in Bulgaria, held in September, the advertisement of PAC Doverie, provisionally called "Beckham", the artistic development of which was made by our longtime partner - New moment, New ideas Agency, was awarded first place in the category "TV and Movie ads".


On the occasion of its 15-th anniversary and true to its traditional strive by all means to support the professional development of young people in Bulgaria, their improvement and successful realization in their homeland, the Company established a scholarship in the amount of EUR 15,000 annually to support the training of Bulgarian students in Bachelor's Degree Programs in certain specialties of the most prestigious universities in Europe and USA.


Following the policy of applying the best practices imposed by the European and world standards in corporate governance, in the middle of 2008 PAC Doverie AD adopted a Code of Ethics and Rules regarding private transactions in financial instruments. The principles underlying those two documents have always been of paramount importance for the Company and synthesizing them in writing was merely a symbolic act and further evidence of the Company's commitment to its customers and partners, to continuously improving the quality of our work and to provide better service.

In the fall the Company made a symbolic gift to its customers and partners, becoming a general sponsor of the concert in Memoriam of Luciano Pavarotti A Life for the opera and its friends, organized by the "National Opera and Ballet" Foundation. The audience in the overcrowded Hall 1 of the National Palace of Culture was able to dip into the virtuoso performances of many famous Bulgarian and foreign artists who have joined the cause and sang their songs in memory of one of the greatest voices in the world.

True to our desire to put customer care first, always and regardless of any circumstances, on the eve of Christmas, the Company gave its contribution for the pensioners of Doverie VPF to spend bright and comfortable holidays even in the conditions of global financial crisis. All of them received a special Christmas benefit amounting to their monthly pension.

The yield achieved as a result of the financial crisis impairs to the fullest extent the interests of persons receiving pensions from a voluntary pension fund. That is why PAC Doverie took a decision, regardless of the yield achieved, to maintain the amount of the supplementary pensions paid by Doverie Voluntary Pension Fund in 2008. For this purpose, the Company transferred about BGN 600 000 from its own funds to the pension reserve.

Despite the extremely complicated situation in the global financial markets in 2008 the number of people insured in the funds managed by the PAC Doverie continued to grow and according to the FSC data as of 31.12.2008 (www.fsc.bg) exceeded 1,253,754, compared to 1,236,578 at the beginning of that year.



The Company started the first of its kind initiative for raising the legal and employment culture of the young people in the country, called Professional Guide.  

The fees charged for Doverie Voluntary Pension Fund were reduced. That step became possible thanks to the great number of insured persons in the three pension funds managed by the Company, already beyond 1,220,000.

A discharge of 15 per cent from the fee was introduced for persons who besides Doverie GPF or PPF have become members also of the Voluntary pension fund of the Company.

The reduction of the fees will result in an increase of the individual account accumulations of the insured persons and hence, of the amount of the pensions to be received in future.

The leading European Investment & Pensions Europe (IPE) magazine included PIC Doverie in its annual listing of the Top 1000 amongst over ten thousand pension funds in the Old Continent.

The total net assets of the three pension funds managed by the Company reached over BGN 700 million.

After the latest assessment of PIC Doverie AD and the pension funds managed by the Company, the Bulgarian Credit Rating Agency (BCRA) raised the A- rating perspective of Doverie from stable trend to positive trend and confirmed the A- (stable trend) rating of Doverie GPF, Doverie PPF and Doverie VPF.


The stable increase of the number of clients continued and as of the year end they exceeded 1,200,000. The assets of the pension funds under management neared BGN 500 million. BCRA raised the credit rating of the pension insurance company from BBB+ to A- (stable trend) and confirmed A- rating of Doverie GPF, PPF and VPF. The active information campaign with the municipalities continued, connected with the opportunities for financing municipality projects with the help of the pension funds, by applying for funds from the structural and cohesion funds of EU.

Daniela Petkova, Chief Executive Officer of Doverie Pension Insurance Company was distinguished by the American Biographic Institute for her achievements in the sphere of marketing and management for 2005 and was included in the list of the Great Women of the 21st Century. She is a winner of the traditional Business Woman of the Year Award for 2005, granted by the "We, the Women" newspaper. She was also elected Chairperson of the Controlling Board of the Confederation of Employers and Industrialists in Bulgaria (CEIBG).  

Doverie, jointly with UBB, offered the members of Doverie Voluntary Pension Fund the opportunity to make their contributions for voluntary pension insurance by bancomat. The Company presented all citizens and guests of Sofia with renovated lighting of the garden in front of the National Theatre and Christmas decoration of the Vassil Levski Boulevard. 


The Company introduced two new services aiming at customer service improvement: 24-hour call center - Tel. 0 900 32 100 (0.18 BGN/min, non-inclusive of VAT, from allover the country) and check-up of the individual account for clients of M-Tel through SMS - Tel. 190001 (the price is according to the respective subscription plan). The Company started also the New Horizons communication program, which is intended to inform the representatives of the local authorities about the possibilities for alternative financing and co-financing through issues of bond emissions of municipality projects with the help of the pension funds.  The program is organized in cooperation with TBI Invest and during 2005 was realized in the towns of Bankya, Varna, Shoumen and Razgrad. PIC Doverie invested over BGN 600,000 in a national information campaign to popularize supplementary voluntary pension insurance and the personal responsibility of each individual towards his own living standard after retirement. The Bulgarian Credit Rating Agency (BCRA) confirmed the rating adjudged by BCRA and ICRA in 2004 to the Company and the pension funds under its management being respectively BBB+ for the Company and A- for Doverie GPF, PPF and VPF. At the end of 2005 the assets under management of Doverie pension funds reached BGN 365,795,000 and the number of clients of the company became 1,129,695.

The Bulgarian Credit Rating Agency and Indian Credit Rating Agency adjudged to PIC Doverie BBB+ credit rating and A- to Doverie GPF, PPF and VPF. The AUM of Doverie pension funds exceeded BGN 260,000,000.  The clients of PIC Doverie could choose among the full range of bank products and services at preferential prices offered to them by three leading banks. PIC Doverie was granted a special award for partnership and development of modern information technologies by Oracle Bulgaria and the Company Calendar for 2004 was rewarded a number of prizes and nominations at prestigious festivals in Bulgaria and abroad. As a part of the developed overall integrated image of the companies of TBI Group PIC Doverie successfully introduced the new corporate image of the company by realizing a special advertising campaign which established also the new slogan of the company: Let's talk with confidence about the future! PIC Doverie marked its 10th anniversary by presenting its clients with a unique fireworks show made from 6 different points of Sofia. 
Successful finalization of the procedures of merger between BPOD and the funds under its management with PIC Doverie. The registered number of Doverie members according to data of the Financial Supervision Commission reaches over 1,000,000 and the market share of the Company - 43%. The sales network numbers 15,000 insurance agents and the assets of the pension funds as of December 31, 2003 are over BGN 160 million. PIC Doverie is awarded the First Prize for financial product of 2003 and first prize in the Insurance and Security category of the Banks, Investments and Money Fair. The company is nominated and included into the short-list of the companies for the European pension funds Awards for Central and Eastern Europe of the Investment and Pensions Europe magazine - Holland.
The number of the insured with the pension funds managed by PIC Doverie exceeded 720,000 people. After the purchase of the majority packet of shares of BPOD by TBIH the procedures of merging the forth-largest pension insurance company with PIC Doverie started. The capacity of the information system was also enlarged. The clients of the company were enabled to check the balance on their individual accounts on line. PIC Doverie participated successfully in three big tenders for voluntary pension insurance conducted by Maritza Iztok Mines EAD, Umicore Med and DP RVD.

48 049 people working under the conditions of 1st and 2nd labor category chose Doverie Professional Pension Fund, which is 47% market share for the Company;

The Company increases its staff by 70 new employees;

Doverie pays 1 300 supplementary pensions from Doverie Voluntary Pension Fund;

Doverie becomes a member of the Bulgarian Chamber of Commerce and Industry;

471000 people born after December 31, 1959 chose Doverie General pension Fund - that is a market share of 40% which makes the company one of the leading financial institutions in the country.

PIC Doverie adopts a strategy for its next ten-year development until 2011;

The Company is among the founders of the Bulgarian Employers Union; PIC Doverie receives License No 1; Doverie Voluntary, Professional and General pension funds are registered;

The registered capital is increased to BGN 10 000 000;

The number of members reaches 111 000; Contracts with employers - 620.


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