EUROINS RAISES EUR 51.1 MILLION THROUGH CAPITAL INCREASE

The funds will be used to finance the growth and development of the Bulgarian insurer in key CEE markets

Athens, 3 February 2025 - Euroins Insurance Company AD, one of the leading Bulgarian insurers in Eastern Europe, part of Euroins Insurance Group AD (EIG) and Eurohold, the largest Bulgarian publicly-listed holding, is in the process of increasing its capital through the issuance of 25 million new shares, which will raise a total of EUR 51.1 million of its own funds.  

The funds will be used to finance the development and organic growth of the Bulgarian insurer in its key markets in Central and Southeastern Europe (CESEE), including Poland, where the company is accumulating solid growth, and Greece. Euroins will further improve its solvency as well and support the ongoing digital transformation of the business. “The capital increase follows our strategy of sustainable and stable development and will provide us with the opportunity to further strengthen our position in the markets in which we operate and in which the demand for insurance services is growing along with the expectations for higher quality,” said Joanna Tsoneva, Chairman of Euroins Insurance Company AD Board.

Apart from Bulgaria,  EIG operates in 11 countries, including Greece, Poland, Spain, Germany, Italy, Romania, and Georgia. 

In the first nine months of 2024, Euroins’ premium income accounted to EUR 166.7 million, up by 7% compared to the same period of the previous year. For the same period, Eurohold booked nearly EUR 1.02 billion in revenue and EUR 122.7 million in earnings before interest, depreciation, amortization and taxes (EBITDA), up by 5 percent and 37 percent, respectively, compared to the first nine months of 2023. 

Mrs. Angeliki Mouratidou, General Manager of Euroins Greece stated: "The recent capital increase of €51.1 million of Euroins Insurance Company AD, is a decisive development in the strategic development of the company. This decision highlights our commitment to stability and profitable growth in the Greek market as well. By strengthening our financial resources, we aim to expand our influence and effectively seize new opportunities aligned with our core values and strategic goals”.