According to preliminary data published by the group, similarly to previous reporting periods, the Romanian subsidiary - EUROINS Asigurari - reported the highest GWP volume - EUR 107.95 million (more than 68% of the Group's total GWP). In term of rates, EUROINS Romania reported a 6.2% decline in GWP, due to the 43.8% reduction of Motor Hull premiums, a 3.4% decrease in MTPL and more than 47.2 decrease of the property premiums portfolio. "The decline in CASCO premiums of EUROINS Romania was due to the company policy of reducing the exposure to risky clients", the Bulgarian holding pointed out in a press release.
EUROINS Bulgaria - the second largest EIG subsidiary, reported 8% increase in GWP, due to the 5.4% increase in Motor hull segment and a 78.1% increase in property: "As a result of the consistent policy of EUROINS Bulgaria, oriented to growth of non-motor business, the share of non-motor insurances in total premium income increased significantly. As well as, the company stabilized the volumes of CASCO insurances due to the better sales of the car brands in the Auto Union". On the other hand, the MTPL sub-segment decreased 15.2% " as a consequence of the company's policy to reduce policies in some risky categories of vehicles such as the heavy tugs."
The premium income of Skopje-based insurer EUROINS Macedonia (the third largest subsidiary as GWP volume) increased by 14% to EUR 8.38 million. The company's GWP from property insurance was up by 28.6% to EUR 0.85 million, while Motor TPL segment rose 8.7% over the year to EUR 5.41 million. "A strong growth in non-motor insurances reported EUROINS Macedonia, which YTD reached 27% increase", EUROHOLD Bulgaria said in the preliminary report.
On the Bulgarian market, EIG is present with other two specialized companies, one on health insurance segment and another one active only on the life insurance segment. At the same time, EIG owns 10% of the Serbian non-life insurer TAKOVO.
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