Bulgarian insurance company Bulstrad Vienna Insurance Group said it will seek the backing of its shareholders for a possible 3.2 million euro loan from its parent company, Austria's Vienna Insurance Group (VIG).

The insurer said in an invitation for a shareholders meeting scheduled for October 20 the loan will be used to strengthen its capital position and boost financial liquidity.

The loan would be provided for a 10-year period at a fixed annual interest rate of 5%. Read the full story BULGARIA's Bulstrad eyes VIG loan to boost capital, liquidity position