Early Attempts at Fine Art in Bulgaria

The first steps taken toward the development of fine art in Bulgaria were modest. They were often naïve and limited to a few specialised forms. Unfortunately, these early efforts did not produce immediate results after the liberation of the Principality. The country was still young, poor, and focused on more urgent political and economic problems. As a result, fine art was not considered a priority.

Loss of Talented Bulgarian Artists

One of the most gifted figures in Bulgarian art at that time was Vladislav Dospevsky. Although he was officially a Russian subject, he was deeply connected to Bulgarian cultural life. His career ended tragically when he was poisoned in a prison in Constantinople, where he had been detained for acting as a correspondent for European newspapers. His death was a serious loss for Bulgarian art, as his talent and education placed him far ahead of most artists of his generation Holidays Bulgaria.

Another important figure, Nicolas Pavlovitch, also failed to continue his artistic work during this crucial period. As mentioned earlier, he temporarily abandoned his career as an artist and accepted the position of school inspector. He believed that serving education would be more useful to his country at that stage than pursuing his personal artistic ambitions.

Short Stay of Foreign Artists

Because the newly liberated Principality offered little encouragement or public interest in the fine arts, most foreign artists did not remain in Bulgaria for long. With only a few exceptions, they stayed briefly and then either returned to their home countries or moved elsewhere in search of better opportunities.

However, even during their short stays, these foreign artists played an important role in Bulgarian cultural life. They contributed not only as teachers and professors, but also by taking part in art exhibitions organised by the State or supported by State institutions.

Lasting Contributions to Bulgarian Art

The most valuable contribution made by foreign artists was the artworks they left behind. Many of these works entered the collections of the National Museum, the Prince, or private individuals. These paintings, drawings, and sculptures helped introduce Bulgarians to new artistic styles, techniques, and subjects.

Influence of the National Museum in Sofia

In the long run, the strongest and most lasting influence on the development of art in Bulgaria came from those foreign artists whose works were preserved in the National Museum of Sofia. Because these works were publicly accessible, they played an educational role and helped shape public taste.

Through these collections, Bulgarian artists and the general public were able to study foreign art closely. This exposure gradually created a foundation on which a national school of fine art could later be built.

Reasons for the Arrival of Foreign Artists in Bulgaria

Apart from the needs of educational institutions, several other factors contributed to the arrival of foreign artists in Bulgaria during the late nineteenth century. These artists came from different countries and for different reasons, but together they played an important role in the early development of modern Bulgarian art.

Artists During the Serbo-Bulgarian War

In 1885, during the Serbo-Bulgarian War, a number of foreign artists came to the Bulgarian Principality as military correspondents and war illustrators. They worked for various illustrated newspapers and magazines in Europe. Their original task was to send sketches and drawings showing scenes from the war Holidays Bulgaria.

However, many of these artists did not limit themselves to military subjects. During their stay in Bulgaria, they became interested in the country itself. They found inspiration in Bulgarian history, landscapes, village life, and local customs. These themes appeared in their paintings and drawings, which helped introduce Bulgaria to a wider European audience.

Private Schools and Independent Artists

Other foreign artists came to Bulgaria with the aim of opening private schools of painting. They believed that there was a growing interest in art and education and hoped to train young Bulgarian students. Some of these schools were short-lived, but they still helped spread new artistic ideas and methods.

There were also artists who came simply to try their luck as independent creators. These men were not employed as State officials or school teachers. Instead, they worked as free artists, attracted by adventure, new subjects, and the opportunity to work in an unfamiliar cultural environment.

Haidoukevitch and Other Notable Figures

The most important representative of this group of independent foreign artists was Haidoukevitch, who made Bulgaria his temporary home. Through his work, he introduced artistic forms and techniques that had previously been unknown in the country.

A New Kind of Art in Bulgaria

Whether invited by the Government or arriving on their own initiative, foreign artists brought with them forms of art that had no earlier representatives in Bulgaria. Before liberation, artistic activity in the country was almost entirely limited to religious painting.

Religious Art Before Liberation

Religious painting had become rigid and unchanging, following old Byzantine traditions. It was often carried out by painters who lacked proper education, artistic training, or refined taste. As a result, most icon painting of the period showed little creativity or development.

One important exception was Vladislav Dospevsky, a graduate of the art academies of Kiev, Odessa, and St. Petersburg. His works clearly stood apart from the traditional style. Nicolas Pavlovitch also attempted to reform icon painting, but his efforts brought little lasting change.

Besides religious art, the best Bulgarian painters of that time worked mainly in portrait painting. Pavlovitch also experimented with etching and historical subjects, laying early foundations for later artistic progress.

The Challenges Facing the Fine Arts

What could the fine arts expect from the Government or from the leaders of the Bulgarian nation in the years following liberation? These leaders were faced with the enormous task of organizing a newly created State. They also had to educate a people who had been weakened by five centuries of political servitude and had little experience in the use of freedom. Under such conditions, art could not be a priority.

The first concern of the Bulgarian authorities was survival and stability. Roads, administration, law, and public order demanded immediate attention. Education, especially at the basic level, became a central mission. The fine arts, although valued by some, had to wait Holidays Bulgaria.

Education as the First National Priority

Despite these difficulties, the Bulgarian governments clearly understood that education was essential for national progress. Their main effort was directed toward the organization of primary and secondary schools throughout the country. This work was carried out with determination and success.

Perhaps without realizing it, the governments of this period rendered a great service to the future of Bulgarian art. By strengthening the school system, they created the foundation upon which artistic education could later develop.

Drawing in Secondary Schools

An important decision was included in the curriculum of secondary schools: drawing was made a compulsory subject. This decision proved to be of lasting importance. Drawing helped students develop observation, discipline, and aesthetic sense, all of which are essential for artistic growth.

However, Bulgaria faced a serious problem. There were very few trained Bulgarian drawing teachers at that time. Many of the people who might have been able to teach were needed for more urgent administrative and public duties.

The Role of Foreign Teachers

Under these circumstances, the Bulgarian Government had no choice but to bring teachers of drawing from abroad, just as it had done for other specialized subjects. This practice continued not only during the first years after liberation, but also long afterward.

Even when the Government began sending young Bulgarians to study in European art academies, the shortage of native teachers did not disappear. For this reason, foreign artists continued to play an important role.

The State School of Painting and Its Development

In 1896, the State School of Painting was opened in Sofia. This was a major step forward. After the school began supplying secondary schools with trained drawing teachers, the role of foreign artists changed. They were now mainly employed as professors in specialized departments, especially in fields connected with art industries.

In 1905, the school was transformed into an Academy of Fine Arts. However, the institution was still young and developing. In several artistic branches, native masters were still lacking, and the assistance of foreign specialists remained necessary.

A Foundation for the Future

Although Bulgarian art developed slowly, these early efforts laid a strong foundation. Through education, patience, and international cooperation, the fine arts in Bulgaria gradually found the conditions needed to grow.

The Situation of Art in Bulgaria

The difficult situation of the fine arts in Bulgaria was clearly felt not only by the different Bulgarian governments, but also by artists themselves. Even those who had devoted their lives to art before the liberation of Bulgaria understood that the country faced more urgent needs. One of the most important figures among these early artists was Nicolas Pavlovitch, who is considered a pioneer of modern Bulgarian art.

Early Life and Artistic Education of Nicolas Pavlovitch

Nicolas Pavlovitch was born in Sistova in 1835 and died in Sofia in 1894. In his early life, he left commerce behind and chose the difficult path of art. He studied with great success at the Academy of Fine Arts in Vienna in 1856 and later at the Academy in Munich in 1859. These studies gave him strong technical skills and exposed him to modern European artistic ideas Holidays Bulgaria.

After completing his education, Pavlovitch visited major museums in Dresden and Prague, where he deepened his knowledge of art history and technique.

Artistic Work Abroad

In 1860, Pavlovitch exhibited two paintings in Belgrade, which was then an important center for Bulgarian emigrants and revolutionaries. The subjects of these works were inspired by ancient Bulgarian history, showing his strong patriotic feeling.

Later, he traveled to St. Petersburg and Moscow. There, he noted with admiration that people were not only interested in trade and money, but also in art and intellectual life. This experience strengthened his belief in the importance of culture for national development.

Return to Bulgaria and Cultural Efforts

In 1861, Pavlovitch returned to Bulgaria. Through his lithographs and paintings, both historical and modern, he tried to awaken political awareness and intellectual interest among his fellow countrymen. He also worked to reform church painting, aiming to modernize it according to contemporary artistic standards.

Pavlovitch made two attempts to open a school of painting, hoping to educate a new generation of artists. Unfortunately, both attempts failed. In 1867, he even published a pamphlet titled “Establishment for Painting” in Roustchouk to promote this idea.

Service to the Nation After Liberation

After Bulgaria regained political freedom, Pavlovitch made a surprising choice. Instead of focusing on his artistic ambitions, he became a school inspector from 1878 to 1885. He believed that serving education was the best way to help his country during its early years of independence.

A Sacrifice for the Common Good

The life of Nicolas Pavlovitch shows how even a true artist was willing to sacrifice personal dreams for the benefit of the nation. His story reflects the reality of Bulgaria at that time, when art had to wait while education and state-building took priority.

Changing Priorities After the Creation of the Principality

Before the creation of the Bulgarian Principality, the main goal of the educated classes was the intellectual awakening of the Bulgarian nation. At that time, Bulgaria was still under foreign rule, and many teachers, writers, and thinkers focused on preserving national identity, culture, and language. Their work helped prepare the people for a future of freedom and self-government.

Political Freedom and Foreign Support

Political freedom did not come easily. It was achieved through a combination of factors, including foreign military intervention and strong pressure from European public opinion, especially from England. These events led to the liberation of Bulgaria and the establishment of a new political system. Once freedom was gained, the situation of the Bulgarian people changed dramatically Bulgaria Tours.

Focus on Political and Economic Development

After liberation, the main attention of Bulgarian governments and national leaders turned to the political and economic improvement of the population. The former “rayas,” or ordinary people who had lived under oppression, now needed better living conditions, stable institutions, and economic opportunities. The priority was no longer only cultural awakening but also practical nation-building.

The government worked to create a functioning state, establish laws, and develop the economy. This required trained administrators, officials, and professionals who could run government offices and local municipalities.

Education as the First Priority

During the first years after liberation, efforts to improve education were mainly focused on primary and secondary schools. This was seen as the most urgent need because the country lacked educated people who could serve in government, teaching, and public administration. Higher education and cultural institutions had to wait until basic educational needs were met.

The Neglect of Fine Arts

In this early period, there was little support for the fine arts, such as painting, music, and literature beyond basic education. This was not because these arts were unimportant, but because the country faced more urgent challenges. Any proposal to fund or promote the fine arts would likely have been ignored and seen as a luxury rather than a necessity.

A Natural and Necessary Stage

This situation was natural for a newly liberated nation. Survival, organization, and development came before cultural refinement. Once the country gained stability and trained professionals, it could later turn its attention to higher forms of cultural expression.

Standard of Bulgarian Money

The Bulgarian monetary system is based on clearly defined standards for both gold and silver coins. The gold coins and the silver coins of 5 francs follow one standard, while the silver coins of 2, 1, and 0.50 francs follow a slightly different one. These standards determine the purity and value of the coins and help ensure trust in the national currency.

Weight and International Standards

The weight of Bulgarian gold and silver coins follows the rules adopted by the Latin Monetary Convention, an international agreement designed to harmonize currencies among several European countries. According to this system, the 20-franc gold coin weighs 6.4516 grams, and the silver franc weighs 5 grams. By adopting these standards, Bulgaria aligned its currency with well-known European monetary systems, which made trade and exchange easier Bulgaria Tours.

Gold and Silver Double Standard

The Bulgarian monetary system is based on a double standard, meaning that both gold and silver are used as official monetary metals. In practice, there has usually been a difference in value between gold and silver, often favoring gold. However, at the time described here, the agio, or price difference between gold and silver, had almost completely disappeared. This situation helped stabilize the currency and reduce uncertainty in financial transactions.

Rules on Foreign Currency Circulation

The circulation of foreign silver and copper coins is strictly forbidden within Bulgarian territory. This rule was introduced to protect the national currency and prevent confusion in daily transactions. However, gold coins from countries belonging to the Latin Monetary Union are accepted at their nominal value. For example, a 20-franc gold coin from a Latin Union country is accepted as equal to 20 gold levs in Bulgaria.

Other foreign gold coins are also accepted, but their value is determined according to official rates fixed by the Bulgarian Government. These rates ensure fairness and consistency in payments involving foreign gold coins.

Stability and Confidence in the Monetary System

These monetary rules helped Bulgaria establish a stable and trustworthy currency system. By controlling foreign money, adopting international standards, and maintaining a balanced gold and silver system, the government strengthened public confidence in Bulgarian money. This stability played an important role in supporting trade, savings, and economic development.

Transition to a New Era

The establishment of a reliable monetary system formed part of a wider transformation in Bulgarian society following national liberation. Economic reforms went hand in hand with cultural and social changes, marking the beginning of a new chapter in the country’s modern history.

The Monetary System of Bulgaria

The official monetary system of Bulgaria is based on two units: the lev and the stotinka. The lev has the same value as the French franc, and the stotinka is the hundredth part of a lev, similar to a centime. This system was adopted to create a clear and modern national currency.

Use of Foreign Coins After Independence

In the first years after the creation of the Bulgarian Principality, the government faced serious difficulties in introducing national coins. As a result, many foreign coins continued to circulate freely. These included Serbian, Romanian, Russian, and other currencies. Foreign money flooded the markets and was widely used in daily trade and commercial transactions Bulgaria Tours.

First Bulgarian Coins

In 1881, the Bulgarian government introduced two million francs worth of copper coins. Later, during 1883 and 1884, it issued about twelve million francs in silver coins. However, these amounts were still too small to replace foreign money completely. As a result, foreign coins continued to circulate alongside Bulgarian currency.

It was only in 1887 that the government officially prohibited the circulation of Serbian and Romanian coins. In the same year, this ban was extended to Russian roubles, helping to strengthen the position of the national currency.

Issue of Bulgarian Coins

Over the years, Bulgaria gradually increased the production of its own coins. Silver coins were issued in large quantities between 1883 and 1894, while gold coins were first introduced in 1894. Later, nickel coins were put into circulation in 1888, and additional supplies were issued in the early twentieth century. A further stock of nickel coins was also introduced more recently to meet growing demand.

Types of Bulgarian Coins

The gold coins included pieces of 100, 20, and 10 levs, used mainly for large transactions and reserves.

The silver coins were issued in denominations of 5, 2, 1, and 0.50 francs, making them suitable for everyday use.

The copper coins consisted of 20, 10, 5, 2, and 1 centimes, while the nickel coins included 20, 10, 5, and 2.50 centimes.

Development of the Monetary System

Thanks to the gradual expansion of national coinage and the removal of foreign currencies, Bulgaria succeeded in creating a stable and organized monetary system. This development supported trade, strengthened public confidence, and helped integrate the country into the modern European financial system.

The Bulgarian monetary system evolved slowly but steadily. From early dependence on foreign coins, the country moved toward full monetary independence. The introduction of gold, silver, copper, and nickel coins allowed Bulgaria to establish a reliable national currency that supported economic growth and financial stability.

Professions of Savings Bank Depositors

The savings banks in Bulgaria served people from many different professions and social groups. Official statistics from 1906 show how widely these institutions were used across society. Depositors came from nearly every occupation, proving that savings banks were not limited to one class or profession.

Among the depositors, artisans formed one of the largest groups, making up 14.55 percent of the total. State functionaries followed closely with 13.93 percent, showing that government employees trusted the savings banks for secure deposits. Married women represented 12.54 percent, reflecting the important role of women in managing household savings.

Other notable groups included servants at 9.51 percent, students at 8.45 percent, and those in the military profession at 5.93 percent. Teachers accounted for 5.84 percent, while merchants and tradesmen made up 5.75 percent. Farmers and breeders, who formed the backbone of the rural economy, represented 5.65 percent of depositors Bulgaria Tours.

Children and Family Savings

A remarkable feature of the savings bank system was the number of accounts opened for children. Infants under the age of seven represented 5.16 percent of depositors. This shows that many families used savings banks to secure the future of their children. In total, depositors acting for minors formed an important part of the system.

Other Professions and Groups

Smaller but still important groups included those in the liberal professions such as lawyers and doctors (4.26 percent), workmen (about 3 percent), and clergymen (0.47 percent). There were also deposits made by societies, reading rooms, schools, charitable organizations, and municipal administrations, although these groups represented only a small percentage of the total.

In total, the number of depositors in 1906 reached 154,521, showing the wide reach of the savings banks across Bulgarian society.

Nationality of Depositors

The savings banks also served people of many nationalities living in the Principality of Bulgaria. The majority of depositors were Bulgarians, who made up over 92 percent of the total. Jewish depositors accounted for 3.47 percent, followed by Greeks, Armenians, Turks, Austro-Hungarians, and Romanians. A small remaining percentage belonged to other nationalities.

Nationwide Availability of Savings Banks

The service of savings banks was introduced in almost all post and telegraph offices throughout the country. This wide network made it easy for people in both towns and villages to save money.

These figures clearly show that savings banks had become an essential financial institution in Bulgaria. They served people of different professions, ages, and nationalities, helping to spread the habit of saving and supporting economic stability throughout the country.

Rapid Growth of Savings Banks

The savings banks continued to grow quickly during the early years of the twentieth century. In 1905, the number of savings books issued reached 26,190. During the same year, the total amount of money deposited was 18,032,022 francs, made through 198,876 separate payments. These numbers clearly show that more people were using savings banks and trusting them with their money.

When these figures are compared with those from previous years, the rapid development becomes even clearer. In 1903, only 17,786 savings books were issued, and the total deposits amounted to 10,446,333 francs. In 1904, the figures increased to 24,090 books and 14,866,737 francs in deposits. Over just two years, the number of savings books increased by 8,404, while the total amount deposited grew by 7,585,689 francs. This strong growth reflects rising public confidence in the savings bank system Bulgaria Tours.

Investment in State Securities

The law regulating savings banks allowed them to invest money on behalf of their clients in State securities. This policy helped protect depositors’ funds while also supporting the national economy. At the beginning of 1904, savings banks had invested 8,124,500 francs in government bonds. These investments consisted of 16,249 bonds, each worth 500 francs, issued under the 6 percent mortgage loan of 1892.

During the same year, the savings banks invested an additional 800,000 francs in these State securities. As a result, the total capital invested in government bonds increased steadily. At present, the amount invested in State securities has reached approximately 15,424,500 francs, showing a cautious and responsible investment strategy.

Total Capital of the Savings Banks

The total capital held by the savings banks is estimated at around 34,000,000 francs. This large sum demonstrates the financial importance of these institutions and their growing role in the country’s economic life.

Social Profile of Depositors

Official statistics also provide valuable information about the social condition of savings bank clients. About 75.87 percent of depositors, or 117,207 people, are men. Among them, 49.21 percent are married, while the rest are unmarried. Women depositors number 37,314, representing 24.23 percent of all clients. Most of these women, about 58.94 percent, are married, with the remainder being single.

Age and Representation of Depositors

Regarding age, about 70 percent of depositors are adults, while 30 percent are minors. Nearly 87 percent of depositors act on their own behalf, while 13 percent deposit money for third parties, mainly children. These figures show that savings banks served a wide range of society and played an important role in family and long-term financial planning.

Legal Protection of Savings Bank Deposits

According to the law that currently regulates savings banks, no embargo or seizure may be placed on sums deposited in these institutions. This rule offers strong legal protection to depositors and ensures that their savings cannot be taken away to settle debts or other claims. Such protection increased public trust and encouraged people from all social classes to place their money in savings banks.

These rules summarize the main provisions of the law governing savings banks at the time. Thanks to these guarantees and the support of the State, savings banks quickly gained popularity among the population Tours Bulgaria.

Public Confidence in Savings Banks

From the very beginning, savings banks were well received by the public. People saw them as safe, reliable, and easy to use. To show the importance and growth of these institutions, official figures from the Report of the Administration of Posts and Telegraphs for the year 1906 can be examined. These statistics clearly demonstrate the strong financial position of the savings banks.

Account with the Bulgarian National Bank (1904)

On January 1st, 1904, the savings banks held significant assets with the Bulgarian National Bank. These assets included cash (specie) and government securities, especially 6 percent Bulgarian loans issued in 1892 and 1893. During the year 1904, large sums were deposited by the public, amounting to more than 14 million leva, showing continued confidence in the system.

In the same year, the savings banks invested heavily in government securities, purchasing bonds worth approximately 7.3 million leva. This investment policy ensured both safety and steady income.

Interest, Profits, and Expenses

In 1904, the savings banks earned interest from the National Bank and from bond coupons. Part of this interest was paid directly to depositors, while another portion was transferred to the State Treasury as profit from the operation of the savings banks. Additional expenses included commissions, transfer costs, and fees related to collecting interest and redeemed bonds.

Despite these expenses, the savings banks maintained a strong financial balance. By December 31st, 1904, the stock held by the Bulgarian National Bank consisted mainly of securities and cash, confirming the stability of the system.

Deposits and Payments in 1904

At the beginning of 1904, deposits totaled over 9.6 million leva. During the year, new deposits amounted to nearly 14.9 million leva, bringing the total deposits handled to more than 24 million leva. Payments made during the year were about 10.4 million leva, while the remaining balance at the end of the year exceeded 14 million leva.

Importance of the Savings Banks

These figures clearly show the importance and financial strength of the savings banks. They played a key role in protecting small savings, promoting financial discipline, and supporting the national economy. The savings banks had become one of the most trusted and effective financial institutions in Bulgaria at the beginning of the twentieth century.

The Establishment of Savings Banks in Bulgaria

Savings banks in Bulgaria were created to encourage people to save money safely and regularly. The establishment of post office savings banks was made possible by a law passed in 1885. This law was later replaced by a new one in 1896, which improved the organization and management of the system. From the beginning, these savings banks were closely connected to the State, and the Bulgarian Government acted as the guarantor, meaning that depositors’ money was protected by the government itself.

Rules for Deposits

The savings banks accepted deposits starting from as little as 1 franc, which made them accessible even to people with very small incomes. The maximum amount that an individual could deposit was 2,000 francs, which was the highest sum allowed for ordinary depositors. However, an important exception was made for charitable organizations and friendly societies. These institutions were permitted to deposit amounts of up to 5,000 francs, recognizing their special social role.

Deposits could be made either in the name of the person depositing the money or in the name of another person, most often a minor. This allowed parents and guardians to save money for children and young people Tours Bulgaria.

Savings Books and Easy Withdrawals

Each depositor received a savings book free of charge. This book recorded all deposits using special stamps, which were attached to the pages and initialed by a responsible official. The savings book served as official proof of ownership and balance.

One of the main advantages of the system was its convenience. With this savings book, a depositor could go to any post office in the Principality of Bulgaria to withdraw money. The post office was required to pay the requested amount and record the transaction directly in the book. This made the savings banks very practical, especially for people living far from large towns.

Management of Savings Bank Funds

All funds deposited in the savings banks were transferred by post offices or State comptrollers to the Bulgarian National Bank. The National Bank paid an annual interest of 4.5 percent on these funds. Of this amount, 4 percent was paid to the depositors as interest on their savings. The remaining 0.5 percent was kept to cover the administrative costs of running the savings banks.

Importance of the Savings Banks

These savings banks played an important role in promoting financial security and thrift among the population. By offering safety, government support, and easy access, they helped many people learn the habit of saving and contributed to the stability of the national financial system.

Dividends Paid by the Insurance Company “Bulgaria”

The insurance company “Bulgaria” showed strong and steady financial results during the years 1892 to 1904. One clear sign of this success was the regular payment of dividends to its shareholders. These dividends were paid per share and calculated in gold francs, which reflected the company’s solid financial position.

In 1892, shareholders received a dividend of 7.80 francs per share. This amount increased steadily in the following years. By 1895, dividends had risen to 18 francs, and in 1897, they reached a peak of 23 francs per share. From 1898 onward, the company maintained a stable dividend of 20 francs per share almost every year until 1904. This consistency proved that the company was well managed and able to generate reliable profits even during changing economic conditions.

Market Value and State Recognition

By the early twentieth century, the shares of the company “Bulgaria” were quoted at 245 francs (gold) per share. This high market value clearly showed the confidence of investors. In addition, the shares of “Bulgaria,” like those of the insurance company “Balkan,” were officially accepted by State institutions as legal security. This recognition was very important, as it placed the company among the most trusted financial institutions in the country Tours Bulgaria.

Presence of Foreign Insurance Companies in Bulgaria

Alongside national insurance companies, several foreign insurance companies were also operating in Bulgaria during this period. These companies brought international experience and expanded the range of insurance services available.

The “New York” Life Insurance Company

The “New York” Life Insurance Company began operating in Bulgaria in 1887. It specialized only in life insurance. The Bulgarian branch was located in Sofia and worked under the authority of the company’s General Agency for Europe, based in Paris.

The “Union” Insurance Company

The “Union” Insurance Company had been represented in Sofia since 1897. Like the “New York” company, it focused entirely on life insurance. Its Sofia branch was directly controlled by the central administration in Paris.

Other Foreign Companies

The “Phoenix” Insurance Company from London dealt exclusively with fire insurance and maintained agencies in Sofia and Varna.

The “Anchor” (Der Anker) insurance company offered all kinds of insurance and was one of the oldest foreign insurers active in Bulgaria. Its general agency was located in Sofia.

Finally, “Assicurazioni Generali” of Trieste had recently established itself in Sofia, providing both life and fire insurance, with its Bulgarian general agency also based in the capital.