Brief History
EUROINS Insurance plc is one of the first insurance companies in Bulgaria that received a licence for General insurance according to the new Insurance Code effective from 1998 – Licence for performing insurance activity N.8 dd. 15.06.1998, issued by the National Council on Insurance with the Council of Ministers of the Republic of Bulgaria.
The marketing strategy of the company is focused on the provision of complete range of insurance products that cover a wide spectrum of risks and ensure sophisticated insurance service to the clients. EUROINS portfolio includes over 40 insurance products which correspond to all 18 insurance types in general insurance.
As a result of the efforts of a dedicated team of managers and staff that are engaged by EUROINS since its establishment the company managed to consolidate its position as one of the leading companies on the general insurance market in Bulgaria.
The company has developed its own sales network that is spread on the territory of the whole country with significant representation in the main regional and administrative centres. EUROINS has offices in 87 towns and works with more than 4000 employees, brokers and insurance agents.
EUROINS is one of the ten founders of the National Bureau of Bulgarian Motor Insurers.
As per the audited financial statement for 2008 the gross written premiums of the company amount to BGN 82.35 million. The company achieves growth of 23.7% compared to 2007. The market share of EUROINS for 2008 is 5.37% (in comparison for 2007 it is 5.27%).
The company is ranked eighth based on premium income in general insurance with a market share of 5.2%.
In 2007 EUROINS is nominated as a “Company with best corporate management” by the Association of Investors. In December 2008 EUROINS was declared "Insurer of 2009"at the traditional "Car of the Year" ceremony.
EUROINS Insurance plc is registered at the end of 1996 with a share capital at the amount of BGN 3 Mln. At the end of 2005 the Financial Supervision Commission confirmed the prospectus for initial public offering of the shares of EUROINS and entered the company into the Register of Public Companies. The trade with EUROINS shares at the Bulgarian stock exchange (BSE) officially started on 31 January 2006. At the end of 2007 the free float exceeds 29.65%. The company capital was increased few times and in July 2007 it reached BGN 10 Mln.
EUROINS is at 22nd place in the rank list of the most liquid companies at BSE for 2007 and since the beginning of September 2007 is included in SOFIX index.
EUROHOLD BULGARIA PLC is the main shareholder in EUROINS through its subsidiary insurance sub-holding EUROINS INSURANCE GROUP PLC(EIG). Eurohold Bulgaria plc is formed in the end of 2006 by the consolidation of Starcom Holding Plc. and Eurohold Plc. The company is public and its shares are traded at the Bulgarian Stock Exchange.
The investment portfolio of Eurohold Bulgaria is focused on four main divisions: Finance, Automobiles, Manufacturing and Real estate. Besides EIG, the company is major shareholder also in Eurolease Auto, Nissan Sofia, Scandinavia Motors, GPS Control, Etropal, Formoplast, Eurohotels, etc.
At an extraordinary General meeting of shareholders of Eurohold Bulgaria plc held on 27.11.2007 a decision for formation of a subsidiary company Euroins insurance group plc was adopted aiming at consolidation of the insurance activities of Eurohold Bulgaria plc through in kind contribution of the shares of IEUROINS Insurance plc, Health insurance company St. Nikolas plc and Asitrans Asigurari plc.
As an independent and focused company Euroins Insurance Group plc has an easier access to the international capital markets and fully corresponds to the increasing requirements of the regulatory authorities towards the majority shareholders in the insurance companies. The formation of the new insurance sub-holding ensures a higher transparency of the financial reports of the insurance division of Eurohold Bulgaria plc.
Currently the new insurance sub-holding Euroins Insurance Group plc. is a majority shareholder in:
The marketing strategy of the company is focused on the provision of complete range of insurance products that cover a wide spectrum of risks and ensure sophisticated insurance service to the clients. EUROINS portfolio includes over 40 insurance products which correspond to all 18 insurance types in general insurance.
As a result of the efforts of a dedicated team of managers and staff that are engaged by EUROINS since its establishment the company managed to consolidate its position as one of the leading companies on the general insurance market in Bulgaria.
The company has developed its own sales network that is spread on the territory of the whole country with significant representation in the main regional and administrative centres. EUROINS has offices in 87 towns and works with more than 4000 employees, brokers and insurance agents.
EUROINS is one of the ten founders of the National Bureau of Bulgarian Motor Insurers.
As per the audited financial statement for 2008 the gross written premiums of the company amount to BGN 82.35 million. The company achieves growth of 23.7% compared to 2007. The market share of EUROINS for 2008 is 5.37% (in comparison for 2007 it is 5.27%).
The company is ranked eighth based on premium income in general insurance with a market share of 5.2%.
In 2007 EUROINS is nominated as a “Company with best corporate management” by the Association of Investors. In December 2008 EUROINS was declared "Insurer of 2009"at the traditional "Car of the Year" ceremony.
EUROINS Insurance plc is registered at the end of 1996 with a share capital at the amount of BGN 3 Mln. At the end of 2005 the Financial Supervision Commission confirmed the prospectus for initial public offering of the shares of EUROINS and entered the company into the Register of Public Companies. The trade with EUROINS shares at the Bulgarian stock exchange (BSE) officially started on 31 January 2006. At the end of 2007 the free float exceeds 29.65%. The company capital was increased few times and in July 2007 it reached BGN 10 Mln.
EUROINS is at 22nd place in the rank list of the most liquid companies at BSE for 2007 and since the beginning of September 2007 is included in SOFIX index.
EUROHOLD BULGARIA PLC is the main shareholder in EUROINS through its subsidiary insurance sub-holding EUROINS INSURANCE GROUP PLC(EIG). Eurohold Bulgaria plc is formed in the end of 2006 by the consolidation of Starcom Holding Plc. and Eurohold Plc. The company is public and its shares are traded at the Bulgarian Stock Exchange.
The investment portfolio of Eurohold Bulgaria is focused on four main divisions: Finance, Automobiles, Manufacturing and Real estate. Besides EIG, the company is major shareholder also in Eurolease Auto, Nissan Sofia, Scandinavia Motors, GPS Control, Etropal, Formoplast, Eurohotels, etc.
At an extraordinary General meeting of shareholders of Eurohold Bulgaria plc held on 27.11.2007 a decision for formation of a subsidiary company Euroins insurance group plc was adopted aiming at consolidation of the insurance activities of Eurohold Bulgaria plc through in kind contribution of the shares of IEUROINS Insurance plc, Health insurance company St. Nikolas plc and Asitrans Asigurari plc.
As an independent and focused company Euroins Insurance Group plc has an easier access to the international capital markets and fully corresponds to the increasing requirements of the regulatory authorities towards the majority shareholders in the insurance companies. The formation of the new insurance sub-holding ensures a higher transparency of the financial reports of the insurance division of Eurohold Bulgaria plc.
Currently the new insurance sub-holding Euroins Insurance Group plc. is a majority shareholder in:
- EUROINS Insurance plc, Bulgaria – 74,61%;
- EUROINS (Asitrans Asigurari), Romania – 85,54%;
- EUROINS Health insurance, Bulgaria – 50%;
- EUROINS Osiguruvanje, Macedonia – 91,39%;
- INTER SIGORTA Istanbul – 90%.
For more information about Euroins Insurance Group plc. please visit www.eig.bg