Local insurer Euroins Romania, which is now under financial recovery, will increase its capital by RON 400 million (EUR 90 million) in the next 12 months.

The first capital boost, which amounts to EUR 45 million, will be carried out by the end of the year, according to the Financial Supervisory Authority ASF. The shareholders have already approved the capital increase.

Euroins entered the financial recovery procedure following a decision of ASF on October 14. On the same day, the insurer announced that the shareholders approved a capital boost of RON 200 million (EUR 45 million).

Euroins is one of the top 10 insurers in Romania and one of the biggest players on the mandatory car insurance RCA segment.

editor@romania-insider.com