Euroins Bulgaria raises EUR 7.7m to support the expansion in Greece and Poland (NEUTRAL)
04.10.2023
Source: Eurohold Bulgaria; FFBH
Eurohold Bulgaria (EUBG) announced that Euroins Bulgaria, part of Euroins Insurance Group (EIG), has increased its capital by EUR 7.7m (BGN 15m) in order to finance its development and expansion on the foreign markets, mainly in Greece and Poland, which are the largest markets the company operates outside Bulgaria. According to the statement, the capital increase was subscribed by EIG shareholders and will further improve the solvency ratio of the insurer to a level that fully covers and even exceeds the risk appetite of the company. In addition, EIG has reportedly returned to the Romanian market following the exit by offering non-motor insurance services under FoS.