Bulgarian holding firm Eurohold Bulgaria has increased its total investment in Euroins, a local blue-chip insurance firm, adding to a previous investment that was made late last year. Eurohold’s stake in the company is now at 76.5% after the purchase of 1.75 million additional shares. The purchase price was set at BGN 4 per share with BGN 1 par value. The infusion of cash now puts Euroins’ capital near BGN 12 million, helping to offset losses the company suffered in 2008.
Euroins Insurance Plc. received a license for General insurance according to the new Bulgarian Insurance Code, being one of the first insurance companies to do so. The company provides a complete range of insurance services including 40 products relating to the 18 specific types of general insurance.
Euroins currently has offices in 87 cities throughout Bulgaria and boasts a team of 4000 employees, brokers and insurance agents. The company was nominated as a “Company with best corporate management” by the Association of Investors in 2007.
Eurohold Bulgaria AD (www.eurohold.bg)
Eurohold Bulgaria is a holding company established in December 2006 as a result of the merger of Starcom Holding AD and Eurohold AD. Since the merger, the new Company focuses on an aggressive expansion in Bulgaria and abroad, aiming to develop a well-diversified portfolio of related businesses in each of the Balkan countries.