EIG, 1H: All subsidiaries reported growth-rates except EUROINS Romania

Bulgarian financial group EUROHOLD said its revenues from insurance activity at the end of 1H2018 amounted to BGN 458.6 million (about EUR 235 million). Compared to the same period in 2017, the revenues from insurance activity decreased by 14.9%.

The operating expenses for the period under review decreased by 16.8% y-o-y to BGN 423.2 million: "Despite the reported revenue decrease, the insurance sub holding EUROINS Insurance Group realized a 16.9% increase in consolidated operating profit, which amounted to BGN 35.6 million compared to BGN 30.4 million as at 30.06.2017", as the Bulgarian holding announced in its half year interim report.

According to the H1 2018 report, EUROINS Insurance Group (EIG, the Group) has realized consolidated gross written premiums of BGN 299.5 million compared to BGN 359.4 million for the same period of 2016.

"The reason for the decrease is the business written by EUROINS Romania. All other subsidiaries have registered growth".

At the same time, the Group has reported an unaudited consolidated profit of BGN 11.5 million compared to a profit of BGN 11.2 million in Q2 2017.

Click here to read the full interim report.

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