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.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

WTW expanded its presence in Kazakhstan

Global insurance broker Willis Towers Watson (WTW) expanded its presence in Kazakhstan - by opening a new entity to serve clients in "this key Central Asian growth market", as the company officials affirmed in a statement.


Lloyd's post-Brexit unit is established and operational

Lloyd's, the global insurance and reinsurance market, announced its post-Brexit unit - Lloyd's Brussels - is established and operational. "Lloyd's Brussels is Lloyd's first Europe wide operation and will bring Lloyd's expertise closer to its customers and partners in Europe".


ALLIANZ' Q3 net profit increased by 23.6% to EUR 1.9 billion

German insurer ALLIANZ announced its total revenues increased by 7.9%, to EUR 30.5 billion in Q3 2018, while the operating profit grew by 20.6%, to EUR 3.0 billion. Overall, the net income attributable to shareholders was up by 23.6% to EUR 1.9 billion, "mainly driven by the increased operating profit".



IGI appoints its first Chief Technology Officer

International General Insurance Holdings Limited (IGI), the international specialist commercial insurer and reinsurer, has announced the appointment of Nasser ZAGHA to the newly-created role of Chief Technology Officer.



Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.


IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.


See all