Change in the leadership of PAC Doverie - Svetla Nestorova takes over from Daniela Petkova

The Chairperson of the Supervisory Board of Pension Assurance Company Doverie Peter Höfinger announced that Svetla Nestorova has been elected as a member of the Management Board of PAC Doverie, who will subsequently take over the functions of Daniela Petkova, until recently the Chairman of the Management Board. 

"This change in management is an evolutionary step in the natural generational change that comes to ensure continued development and strategic continuity in a very successful company with a sustained strong track record", Höfinger's press release reads. 

Daniela Petkova has been part of the PAC Doverie’s team since its inception in 1994. She started as Chief Accountant and then became CFO. From 2000 to 2012, she was CEO and then Chairperson of the Board. Under her leadership, the Company attained the largest market share in the pension insurance sector in the country. According to the preliminary data of the Financial Supervision Commission, by the end of 2023, the insured in the pension funds managed by PAC Doverie will be over 1,2 million, and the assets under management of the Company will exceed BGN 5 billion.  

Ms. Petkova is the winner of the "Mr. & Ms. Economy" award for her contribution to the non-banking financial sector in 2012. In 2013 she also received an award from the Prof. Dr. Veleslav Gavriiski Foundation for her overall contribution to the development of insurance in Bulgaria. 

Svetla Nestorova was part of the team of ZEAD "Bulstrad Life Vienna Insurance Group" from 2004 to 2024, first, as Marketing and Sales Director and from 2006 to March 2024 - as CEO and Chair of the Management Board. 

Simultaneously, between 2013 and 2017, she was a member of the Audit Committee of PAC Doverie, and from 2017 to 2019 - a member of the Company's Supervisory Board. From 2013 to the present, she is part of the Advisory Board of the VPF Doverie. 

She served two mandates as Chair of the MB of the Bulgarian Insurance Association, four years as Deputy Chair and ten consecutive years as Member of the MB, incl. six years as Chair of the Life-insurance Commission. 

For four years she sat in the Executive Committee of Insurance Europe and one year in the Strategic Board. 
She is Deputy Chair of the MB of the Prof. Dr. Veleslav Gavriyski Foundation. Winner of the Manager of the Year award for 2019, as well as the special prize of the Prof. Dr. Veleslav Gavriyski Foundation for overall contribution to the development of Bulgarian insurance.
Throughout the years she has been an active supporter to raise the awareness of the society for the importance of insurance protection and financial literacy. She has also supported various activities focused on the sustainable development of the Bulgarian insurance industry in the framework of the common EU market.

PAC Doverie and "ZEAD Bulstrad Life Vienna Insurance Group" are part of Vienna Insurance Group - one of the largest insurance groups in Central and Eastern Europe. It unites more than 50 insurance companies and pension funds in 30 countries. There are over 29 000 employees. It serves over 28 million customers. 

The changes in the management of the two companies are subject to the necessary follow-up legal steps and registration in the Commercial Register.