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EUROHOLD increases share capital by BGN 80 million
Bulgaria-based Eurohold plans to increase its share capital by BGN 80 million through preferred shares, the new total reaching BGN 277 million. The capital growth will help the company to reduce its debt and support expansion plans.
21 March 2019Bulgaria: Boiko ATANASSOV appointed as FSC's head
The Parliament of the Republic of Bulgaria appointed Boiko ATANASSOV as Chairperson of the Financial Supervision Commission (FSC) on March 15, with 134 votes in favour, none opposed or abstained.
21 March 2019Bulgarian insurer Armeec acquires 4.44% stake in CCB Real Estate Fund REIT
18 March 2019BULGARIA: insurer assets saw an increase of 4.8% y-o-y in 2018
The assets of Bulgarian insurers in 2018 increased by 4.8% y-o-y to BGN 7.645 billion (EUR 3.91 billion), according to the statistics of insurance activity, published by the National Bank of Bulgaria on March 11.
14 March 2019Bulgaria central bank nominates new deputy governor to oversee banks
10 March 2019EUROINS acquires ERGO subsidiaries in Czech Republic, Romania and Belarus
Bulgaria-based Euroins Insurance Group (EIG) has made a purchase agreement with Germany-based ERGO International AG for buying 4 ERGO insurance companies. EIG will take control over ERGO's life and non-life subsidiaries in Romania and Czech Republic, as well as the non-life company in Belarus.
7 March 2019EIG: The prudent approach applied in Romania, influenced the year-end group indicators
Bulgarian financial group EUROHOLD said its revenues from insurance activity at the end of December 2018 amounted to BGN 985.3 million (EUR 503.8 million), 2% less y-o-y. The insurance operating expenses for the period under review increased by 0.6% y-o-y to BGN 924.9 million (EUR 472.9) compared to BGN 919.2 million at the end of 2017.
5 March 2019BULGARIA: Only 14.5% of homes covered by property insurance
While residential real estate in Bulgaria has expanded in recent years, the property insurance market remains underdeveloped, well below its true potential.
21 February 2019BULGARIA: EUROHOLD turned on profit in 2018
Bulgarian EUROHOLD -owner of EUROINS Insurance Group (EIG) - announced in its preliminary financial report for 2018 - a positive financial result in amount of BGN 1.7 million (EUR 871,800) versus a loss of BGN 17.3 million (EUR 8.84 million) for the comparable period last year.
5 February 2019BULGARIA: MTPL insurers' contribution to the motor Guarantee Fund raised by BGN 2 per policy
Bulgarian FSC (Financial Supervision Commission) has raised the fixed amount of contribution that Bulgarian insurers have to transfer to the Guarantee Fund for each MTPL contract issued, as a followup to the December 20th discussion when the Commission initially talked about a possible change in the amount of contribution.
30 January 2019EIG's second attempt to acquire Credit Agricole Life rejected by the Greek Central Bank
The Greek central bank's Credit and Insurance Committee announced it has banned the proposed acquisition of a 100% stake in Credit Agricole Life by the Bulgarian Euroins Insurance Group (EIG).
25 January 2019Bulgaria: Hungarian OTP takes over the banking, leasing and life insurance business from Societe Generale
The sale of the French Societe Generale banking group's Bulgarian subsidiary, SG Expressbank - including the leasing, factoring and life insurance subsidiaries -, to Hungarian OTP Bank was finalized, according to an OTP statement on 16 January.
18 January 2019KJK Fund II acquires 1.77% stake in Eurohold Bulgaria for 2.3 mln euro
2 January 2019Fitch assigns Bulgaia's EIG Re IFS rating of 'BB-", outlook stable
2 January 2019STATISTICS: BULGARIA, 3Q2018: MTPL business shapes the market in growth and leadership terms
The Bulgarian insurance market saw a 13.5% GWP growth in 3Q2018, to EUR 953.36 million, while paid claims went up overall by only 3.75%, to EUR 407 million. Non-life insurance line, especially the MTPL class, were the market's growth drivers.
20 December 2018FSC allows KBC to merge its Bulgarian life insurance units
The Bulgarian Financial Supervisory Commission announced it has allowed DZI - Life Insurance's plan to absorb its wholly-owned unit UBB - Life Insurance. FSC did not provide further details in its statement.
19 December 2018Bulgarian Euroins Insurance Group to Launch Georgian Insurance Market
17 December 2018Bulgarian regulator allows DZI - Life Insurance to absorb UBB - Life Insurance
17 December 2018Bulgaria's Life Insurance Institute to offer services in Romania
13 December 2018Bulgarian insurers' assets grow 3.7% y/y at end-Sept
12 December 2018
