EBRD signs deal to acquire minority stake in Bulgarian insurer Euroins

By bne IntelliNews October 5, 2021

The European Bank for Reconstruction and Development (EBRD) said on October 5 it has signed an agreement to acquire a minority stake in Bulgaria’s Euroins Insurance Group (EIG).

“The EBRD is investing €30mn through a capital increase, while Еurohold, the insurance group’s parent company, is providing a further equity injection of up to €12mn,” the EBRD said in the statement.

The funds will be used for the development and growth of the largest insurance entity within the group, Euroins Romania Asigurare Reasigurare. It will also back the group’s operations and growth in Georgia, Greece, North Macedonia, Poland and Ukraine.

The EBRD’s investment will also help EIG improve its corporate governance, digitalisation and to diversify products from mandatory motor insurance to those covering health, accidents, fire and property.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Moldova’s largest lender maib puts Bucharest exchange listing on hold

The largest bank in Moldova, Moldova Agroind Bank (main), announced it is postponing its plan to list on the Bucharest Stock Exchange (BVB) because certain provisions in Moldovan legislation make the ... more

Romania’s leading financial group Banca Transilvania reportedly takes over BRD Pensii

Banca Transilvania, the leading financial group in Romania by assets, has reportedly reached the stage of agreeing technical and legal details for the takeover of BRD Pensii division from BRD-SocGen, ... more

Romania’s leading lender Banca Transilvania takes over OTP Bank’s subsidiary

Romania’s largest financial group by assets, Banca Transilvania (BVB: TLV), announced that it had signed a contract ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    10 days ago
  3. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  4. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  5. Russia’s war economy boosted by rising oil prices
    4 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    25 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    30 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    23 days ago

Reports

Dismiss