Bulgarian EIG H1 premium income up by 3.3% y-o-y

4 August 2016 — Vlad BOLDIJAR
Bulgarian-based EUROINS Insurance Group (EIG) reported gross written premiums of EUR 119.76 million during January-June 2016, 3.27% more y-o-y, the financial holding EUROHOLD announced in a statement.

According to the published figures, similarly to previous reporting periods, the Romanian subsidiary - reported the highest GWP volume - EUR 87.96 million (more than 73% of the Group's total GWP), representing an 11% y-o-y growth-rate: "As a result of the rapid pace of development in recent years, EUROINS Romania is now the third company by market share on the Romanian insurance market. Currently, the company focuses on quality and diversification of its insurance portfolio through detailed market segmentation, which significantly reduces the levels of risk taken. For the current year the goal of management is to keep the market position and to improve significantly the financial result", the Bulgarian holding pointed out in a press release.

EUROINS Bulgaria - the second largest EIG subsidiary, reported 14.6% decline in GWP, "which is the result of accounted in May'2015 EUR 11.6 million from active reinsurance. If you eliminate the above one-off effect of reinsurance, the direct insurance business of EUROINS Bulgaria was increased by approximately 37% for the first six months of 2016".


Read the full announcement here.

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