Euroins Bulgaria, one of the leading Bulgarian insurers in Eastern Europe, part of Euroins Insurance Group AD (EIG) and Eurohold, the largest Bulgarian publicly-listed holding, is in the process of increasing its capital through the issuance of 25 million new shares, which will raise a total of BGN 100 million (EUR 51.1 million) of its own funds.

According to the company, the funds will be used to finance the development and organic growth of the Bulgarian insurer in its key markets in Central and Southeastern Europe (CESEE), including Poland and Greece. Euroins will further improve its solvency as well and support the ongoing digital transformation of the business.

“The capital increase follows our strategy of sustainable and stable development and will provide us with the opportunity to further strengthen our position in the markets in which we operate and in which the demand for insurance services is growing along with the expectations for higher quality”, commented Joanna Tsoneva, Chairman of Euroins Bulgaria’s Board.

The insurer noted in its press release, that in the first nine months of 2024, Euroins’ premium income accounted to BGN 326 million (EUR 166.7 million), up by 7% y-o-y. For the same period, Eurohold booked nearly BGN 2 billion in revenue (EUR 1.02 billion) and BGN 240 million (EUR 122.7 million) in earnings before interest, depreciation, amortization and taxes (EBITDA), up by 5% and 37%, respectively, compared to the first nine months of 2023.