We are very pleased to announce that OZK-Insurance AD selected SecondFloors’ Solvency II Light – XBRL conversion for quarterly and annual reporting towards their regulator.

About OZK-Insurance AD

JSIC OZK-Insurance AD (previously known as Municipal Insurance Company AD) was established in 1996 with a majority shareholder Sofia Municipality. In 2008, the municipality share was subject to privatization. The activity of OZK-Insurance is subject to the control of the Financial Supervision Commission. The Company deals in insurance in the sphere of general insurance and has obtained license for 12 types of insurance policies.

Based on the obtained license, OZK-Insurance develops various insurance products, doing its best to respond adequately and in due time to the needs and specific requirements of its customers. This includes not only signing insurance policies, but also advising about the most suitable package for each customer,combined with a guarantee for competent, quick and correct damage removal in case of inflicted damages and providing the contracted compensations.

SecondFloors’ Solvency II Service

Our Solvency II Service includes both software and support to help insurance companies report in the most efficient way. We offer three subscription levels:

  • Solvency II Light – XBRL conversion;
  • Solvency II Standard – adds Pillar 1 (SCR/MRC) calculations and production of QRT/Annual;
  • Solvency II Advanced – adds integrated Disclosure reporting to produce SFCR, RSR and ORSA .

For more information visit: Solvency II

SecondFloor software supports reporting processes for more than 500 insurers in over 15 countries across Europe.