Impacts of the Euro Adoption on Your Insurance Contract and Claims to Axiom Insurance Company

On January 1, 2026, Bulgaria officially became part of the Eurozone. This led to changes related to the currency in which insurance amounts, premiums, and indemnities are expressed.

For Axiom Insurance Company customers, these changes mainly involve the conversion of amounts from BGN to EUR, with no change in the terms and conditions of the contracts.

Recalculation and rounding of amounts

All amounts are converted at the official fixed exchange rate: 1 EUR = 1.95583 BGN

The resulting values are rounded to the second decimal place (euro cents) according to the following rule:

• if the third digit is less than 5 → the second digit remains unchanged.
• if the third digit is 5 or more → the second digit is increased by 1.

Example:
390 BGN ÷ 1.95583 = 199.40 EUR

Insurance contracts concluded by the end of 2025

All insurance contracts concluded by December 31, 2025, will remain unchanged after the introduction of the euro.

From January 1, 2026:

• Insurance amounts, limits, and indemnities will be automatically converted into EUR.
• Insurance premiums due after that date will also be recalculated in EUR.
• Until January 31, 2026, payment in BGN will only be possible in cash.
• All online payments will be made in EUR only, with the equivalent amount in BGN indicated for information purposes.

How does this affect you?

If you have a valid insurance policy taken out in 2025, after January 1, 2026, you will see its values in EUR.
If you are paying for your insurance (e.g. health insurance) in installments, each future installment will be recalculated in EUR.
Example:
Installment before January 1: BGN 95.
After January 1: 95 ÷ 1.95583 = EUR 48.57

Submitting insurance claims after January 1, 2026

After this date, all insurance claims to Axiom must be submitted in EUR, regardless of whether they are submitted in the office or online.

If you enclose documents for expenses (invoices, cash receipts) issued in BGN with your claim, you must:

• Convert the amounts into EUR at the official fixed exchange rate.
• Enter the converted and rounded amount when submitting the claim.
• Documents issued in BGN will be taken into account when determining the compensation according to their value in euros. The assessment and payment of compensation after January 1, 2026, will be made exclusively in EUR.

What does this mean for you?

If you have health insurance and submit documents for expenses incurred before the dual display period in which the amounts are in BGN, you must indicate their equivalent in EUR when submitting a claim after January 1, 2026.

Example:
Receipt: 48 BGN → when submitting your claim, enter 24.54 EUR.
All online payments will be made in EUR only, with the equivalent in BGN indicated for information purposes.

Submitting a claim online via MyAxiom – in 3 steps

• Log in to the online platform of Axiom Insurance Company – MyAxiom.
• Attach the scanned original documents.
• Enter the recalculated and rounded amount in EUR.

Communication with customers

All notification letters for paid or denied claims sent after January 1, 2026, will contain amounts in euros only, even if the claim was originally submitted in Bulgarian levs.

In summary, as of January 1, 2026:

• The terms and conditions of insurance contracts remain unchanged.
• All amounts are converted into EUR at a fixed rate of 1.95583.
• Rounding to the second decimal place is applied.
• Insurance claims shall be submitted and indemnity shall be paid solely in EUR.