On 9 June, 2026, the Financial Supervision Commission (FSC) revoked the insurance activity license of “DallBogg Life and Health” insurance company. Based on the finding that the insurer does not comply with the minimum capital requirement under Solvency II, FSC required it to submit a short-term realistic plan for restoring its solvency. Within the set deadline, the company submitted a plan, which the Commission reviewed, assessed in detail and found that the plan was clearly inadequate for restoring the insurer's solvency. The presentation of a inadequate recovery plan, in the event of the most serious possible infringement – non-compliance with the minimum capital requirement – is grounds for revoking of the insurer’s licence. In these circumstances, FSC, as the national authority that licensed the insurer, has no discretion but is obliged to withdraw the licence. Furthermore, FSC found that the insurer had failed to comply with several coercive administrative measures imposed by the Commission that had entered into force, as well as by decisions subject to immediate enforcement by law. Also, FSC found that the insurer had committed numerous serious or systemic infringements in carrying out its activities in the EU Internal Market and in the Green Card system. Last but not least, FSC found that the insurer had wrongfully refused to pay due and liquid monetary obligations established on the basis of court decisions. As of 9 June 2026, "DallBogg Life and Health" AD is not entitled to conclude new insurance contracts or extend the terms or expand the coverage under current insurance policies. The insurer is not entitled to freely dispose of its assets. The insurer will be managed and represented by two administrators. Note that a significant part of the investments of the company are in related parties. 2024 financial statements (the last one revealed) show that the company has EUR 25.9m in bonds of the majority shareholder. Additionally, according to media reports, the company has extensive position in low liquidity financial instruments such as securitized shares of Tchaikapharma [THQM] and hospital receivables. At the same time, the total equity of the company amounts to EUR 24m. This data is before the explosive growth of company’s investments – up 140% YoY to EUR 222.3m as of end-2025 with corporate bonds increasing by 258% YoY to EUR 92.8m and investment property surging 565% YoY to EUR 82.6m.