Bulgarian EUROINS Insurance Group's nine months GWP rises 9.4% y-o-y

27 October 2016 — Vlad BOLDIJAR
The Bulgarian EUROINS Insurance Group - EIG, reported for the nine months of 2016 a 9.4% increase of its aggregate GWP to EUR 185.6 million, according to the preliminary results published by the group. Positive rates were reported by EUROINS Romania (+18.6%) and EUROINS Life (+9.5%), while EUROINS Bulgaria (-14.2%) and EUROINS Macedonia (-3.0%) have seen a downward trend.

In case of Romanian branch, "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", EIG mentioned in a statement.

The decline reported by EUROINS Bulgaria "is the result of accounted in May'2015 EUR11.6 million from active reinsurance. If you eliminate the above one-off effect of reinsurance, the direct insurance business of Euroins Bulgaria was increased by 15.9% for the first nine months of 2016".

At the same time, EUROINS (former HDI) Ukraine - already part of EIG - after Germany-based TALANX transferred the 99% of shares of the Ukrainian company to EIG on 12th of August - reported GWP of EUR 523 thousand.  

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