EIG’s December’16 GWP up by 29.3% YoY to EUR 31.4m (NEUTRAL)

Euroins Insurance Group’s (EIG) December 2016 gross written premiums came to EUR 31.4m, up by 29.3% YoY, Eurohold announced. Euroins Romania’s GWP came to EUR 21.9m, up by 19.6% YoY, while Euroins Bulgaria’s GWP increased by 68.2% YoY to EUR 8.6m. The revenue of the Macedonian insurance company added 5.2% YoY to EUR 0.7m and the GWP of the newly founded Ukrainian subsidiary were EUR 0.2m. The monthly life insurance revenue of the group shrank to EUR 67k from EUR 245k in December’15. On a cumulative basis, EIG’s 2016 premium income reached EUR 268.0m, up by 16.1% YoY, where the premiums of Euroins Romania increased by 21.8% YoY to EUR 197.7m and the GWP of Euroins Bulgaria decreased by 1.6% YoY to EUR 57.6m. The cumulative premiums of Euroins Macedonia declined by 1.7% YoY to EUR 8.6m and the revenue of the Ukrainian company reached EUR 3.2m. The life insurance revenue in 2016 declined 27.5% YoY to EUR 0.9m.