The Bulgarian group Eurohold increased by EUR 30.2 million the capital of the local insurance company Euroins Romania at the end of the first quarter.

The insurer has been under financial recovery since October 2015. Following the increase, the company will meet the basic requirements in terms of capital required by the Solvency II standard, reports local Economica.net.

Euroins Romania increased its revenues from gross written premiums by 14% in the first quarter of the year. However, the total number of concluded contracts dropped by 5% during this period compared to the first three months of 2015.

Euroins Romania is part of the Euroins Insurance Group, one of the largest independent groups active on the insurance market in Central and Eastern Europe and South Eastern Europe.

Euroins Insurance Group is a subsidiary of the Bulgarian company Eurohold Bulgaria that focuses on financial non-banking services and asset management.

editor@romania-insider.com