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Bulgaria FY2020 Market Portofolio
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Bulgaria's FSC Approved Eurohold's capital increase prospectus
Bulgaria's Financial Supervision Commission (FSC) approved urohold's capital increase prospectus, which will allow the Bulgarian holding to raise up to EUR 100 million by issuing new shares on the Bulgarian Stock Exchange (BSE).
4 May 2021STATISTICS: Non-life classes maintained the Bulgarian market in positive area
Bulgarian insurance market totaled BGN 2.88 billion (~EUR 1.47 billion) at the end of December 2020, down by 0.88% y-o-y, according to data from the Financial Supervision Commission - FSC.
15 April 2021Eurohold's shareholders approved capital increase
Bulgarian financial holding Eurohold, the owner of Euroins Insurance Group - announce it will increase its capital by issuing new shares on the Bulgarian Stock Exchange (BSE), "which will allow the company to raise up to EUR 100 million.
14 April 2021Bulgaria: Insurance brokers' business increased by 2% during 2020
The Bulgarian insurance brokerage market totaled BGN 1.72 billion (EUR 878 million) at the end of 2020, about 1.8% more y-o-y, as announced the local insurance market regulator FSC in a statement published on its website.
23 March 2021Bulgarian FSC puts Euroamerican into liquidation process
The Bulgarian Financial Supervision Commission informed that on March 11,2021 it took the Decision on on initiating proceedings for compulsory liquidation of non-life insurer Euroamerican.
23 March 2021Eurohold posted YE 2020 stable revenues despite Coronavirus pandemic
Bulgarian financial holding Eurohold, the owner of Euroins Insurance Group, announced stable revenues in 2020 compared to the financial results in 2019 when the economy was growing, according to the holding's preliminary consolidated unaudited financial report for the last year.
16 March 2021GEM to invest EUR 26 billion in Eurohold to support the acquisition of CEZ Group's business in Bulgaria
Bulgarian financial holding Eurohold has secured a EUR 26 million (USD 31 million) funding commitment from Gem Global Yield (GEM), a USD 3.4 billion Luxembourg-based alternative investment group focused on emerging markets. The two parties have already signed an agreement.
16 March 2021Bulgaria: Eurohold is issuing new shares on the stock exchange
Eurohold Bulgaria, owner of Euroins, intends to increase its working capital up to EUR 100 million by issuing new shares on the Bulgarian Stock Exchange (BVB). The main shareholders of Eurohold, including Starcom Holding AD, confirm their participation in the future capital increase.
3 March 2021KBC to expand its presence on Bulgarian market by acquiring NN operations
Belgian fiancial group KBC and the Netherlands-based NN Group announced they reached an agreement for KBC's Bulgarian subsidiary, DZI - Life Insurance, to acquire NN Bulgarian operations for a total consideration of EUR 77.7 million.
15 February 2021Green light for EUROHOLD to acquire the subsidiaries of CEZ Group in Bulgaria
The Bulgarian Energy and Water Regulatory Commission (EWRC) granted approval to EUROHOLD Bulgaria for the acquisition of the Czech energy company CEZ Group's subsidiaries in the country, as the financial holding announed in a statement.
25 January 2021BULGARIA: FSC postpones European Single Electronic Format (ESEF) reporting by one year
In 2013, the European Directive 2013/50/EC pushed all annual financial statements of issuers whose securities are admitted to trading on regulated markets in the EU to be drawn up in a single electronic reporting format (ESEF), starting from 1 January 2020. Because of the COVID-19 pandemic, the Financial Supervision Commission of Bulgaria (FSC) decided to postpone for one more year the implementation, allowing the companies to focus on the management of the pandemic crisis.
21 December 2020XPRIMM TIME for BUSINESS: Perspectives for the Bulgarian re/insurance market in the context of Covid-19
Rapid modernization, stability and consumer protection were the top priorities for the Bulgarian insurance market, as revealed during the latest international show of XPRIMM TIME for BUSINESS, aired on Wednesday, 16 December.
17 December 2020STATISTICS: BULGARIA, 3Q2020: Local insurers reported increasing 9 months profits
Bulgarian insurance market totaled BGN 2.16 billion (~EUR 1.10 billion*) at the end of September 2020, down by 0.87% y-o-y, according to data from the Financial Supervision Commission - FSC.
10 December 2020STATISTICS: BULGARIA, 1H2020: Despite decreasing GWP, insurers' profits expanded by almost 50%
Half-year market figures from the Bulgarian Financial Supervision Commission (FSC) show that local insurers ended the first semester with a 2% y-o-y decrease in GWP to BGN 1.44 billion (EUR 740 million), while aggregate value of net profit increased by 47.79% y-o-y, to BGN 150.84 million (~ EUR 77.12 million).
8 October 2020EUROHOLD Bulgaria, H1 2020 results: insurance revenues offset the reduced incomes from leasing and sales sales due pandemic
Bulgarian financial group EUROHOLD, increased its H1 2020 revenues by the insurance business line in the context of the COVID-19 pandemic, according to the holding's consolidated financial statement for the period January-June 2020.
29 September 2020BULGARIA: Insurers' aggregated assets, at market level, up by 7.7%
Bulgarian insurers' total assets increased by 7.7% y-o-y, data provided by the Bulgarian Central Bank as of June 30, show. At the same time, the number of market players decreased by 1 unit, to 51 companies. The scope of the statistics also includes the data for the branches of insurers headquartered outside Bulgaria.
10 September 2020STATISTICS: BULGARIA, 1Q2020: Life insurers turned on loss while non-life insurers' net profit expanded by one third
Bulgarian insurance market totaled about BGN 760 million (EUR 389 million*) at the end of March 2020, up by 1.58% y-o-y, according to data from the Financial Supervision Commission - FSC.
2 July 2020BULGARIA: GROUPAMA Life Insurance gets regulatory nod to absorb GROUPAMA EXPRESS Life
Bulgaria's Financial Supervision Commission announced that it approved that local life insurer GROUPAMA Life Insurance to absorb its other life unit: GROUPAMA EXPRESS Life.
18 May 2020STATISTICS: BULGARIA, FY2019: insurers reported impressive growth-rates in GWP and profitability
Bulgarian insurers reported FY2019 GWP of BGN 2.9 billion (~EUR 1.5 billion), about 15% more y-o-y, according to year-end market statistics published by FSC. During the period, Bulgarian insurers paid claims worth of EUR 620.2 million, 8.4% more y-o-y, of which about EUR 530 million being related to non-life LoBs.
12 March 2020Fitch Ratings affirms Russia, Kazakhstan, Georgia, Turkey, Bulgaria and Hungary
During February 2020, Fitch Ratings, the leading provider of credit ratings, affirmed the ratings of Russia ('BBB'), Kazakhstan ('BBB'), Georgia ('BB'), Turkey ('BB-'), Bulgaria ('BBB') and Hungary ('BBB').
3 March 2020XPRIMM Newsletter
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