The Board of Directors is composed of six members with one-tier system of governance:


Tihomir Kamenov – Chairman of the Board of Directors


Lawyer, specialist in public international, private international and commercial law. Founder of the leading companies in healthcare, pharmaceuticals and insurance, part of the Commercial League group. The only Bulgarian senior member of the World Economic Forum (Davos) and the European House – Ambrosetti (Milan), co-founder of the Global Clinton Initiative (New York) and the Investment and Finance Forum (Riyadh). He is a corporate development strategist focused on improving the quality of life and life expectancy in Bulgaria and the Balkans, improving access to modern medical care and advanced products and services. Customer and patient satisfaction and the introduction of innovation and competitive education are high on Chairman Kamenov’s agenda.


Toni Vekov – Executive Director


Master in Biotechnology Processes and Health Management. Doctor of Medical Sciences and Professor since 2012. Specialized in the United States, Switzerland, France, Austria, Russia, Germany and Belgium. Author of more than 200 scientific papers in national and international scientific journals, 19 textbooks, 4 monographs and 2 practical guides, member of editorial boards of three scientific journals, has more than 100 citations in scientific publications.


Prof. Vekov is the Executive Director and member of the Board of Directors of Pension Assurance Company DallBogg: Life and Health and member of the Board of Directors of the Bulgarian Cardiac Institute.


Biser Ivanov – Executive Director


Master in Accounting and Control. Proven professional in the field of insurance and finance. Mr. Ivanov’s professional career is filled with responsible and executive positions in corporate management – from chief accountant and CFO of large companies to CEO and member of the Board of Directors of  Insurance Company DallBogg: Life and Health and Pension Assurance Company DallBogg: Life and Health.


Mr. Ivanov has completed a number of specializations in European financial centers, obtained a securities broker certificate and an investment adviser license issued by the Financial Supervision Commission.


Angel Terziev – Executive Director


Master in Social and Insurance affaires. Certified, qualified responsible actuary since 2007. Mr. Terziev’s professional career development has taken place entirely in the field of insurance and pension insurance, where he is a proven and recognized professional with more than 25 years of experience. He has held positions of responsible actuary and executive director.


Mr. Terziev holds a certificate in Pension Company Management and various courses organized by the United States Agency for International Development and the European Actuarial Academy attended. He specialized in health insurance in the United States.


Martin Mitev – Independent Member


Master in International Economic Relations, Health Management and Insurance and Social Work. A university lecturer with extensive experience in public administration and large-scale project implementation.


Tsvetan Vasilev – Independent Member


Specialist in pediatric diseases and master in health management. With over 30 years of experience in healthcare and hospital management, project implementation and financial instruments. Holds an independent accreditation expert certificate issued by the Ministry of Health.



The Company is represented by the two Executive Directors, always together.

Key positions:


Larisa Borisova – Head of the Specialised Internal Control Department

Master in Accounting and Control. Reports directly to the Board of Directors. Ms. Borisova is a recognized expert with over ten years of experience in the pension industry and many years of experience in accounting, investment brokerage, finance and financial analysis.


Stefan Stoykov – Head of the Specialised Internal Audit Unit


Bachelor in Business Management and Master in Information Technology and Information Brokerage. With many years of experience in accounting and internal audit, Mr. Stoykov is an expert in new technologies and FinTech.


Kaloyan Kostadinov – Head of Risk Management Unit


Bachelor in Finance and Master in Financial Management, specialized and interned in a number of global reinsurance companies. With advanced experience and expertise in risk management, sensitivity analysis, big data analytics, forecasting and planning, reinsurance, internal and regulatory reporting, Mr. Kostadinov is a highly successful Chief Risk Officer at the insurance company, part of the group.