Bulgaria
KBC finalises acquisition of NN's Bulgarian pension insurance and life insurance businesses
Belgium's KBC Group and the Netherlands-based NN Group finalised the agreement announced on 11 February 2021 for KBC's Bulgarian subsidiary, DZI - Life Insurance EAD, to acquire all the shares of NN Pension Insurance Company EAD and all the assets and liabilities of NN Insurance Co. Ltd. - Sofia Branch.
3 August 2021BULGARIA: ABZ: motor insurance continues to dominate, while property insurance remains low
Despite the pandemic challenges, insurance market remains stable, and growth has been observed in some insurance types since the beginning of the year.
3 August 2021Eurohold acquired seven CEZ subsidiaries in Bulgaria for EUR 335 million
Bulgarian financial holding urohold has officially completed the acquisition of seven subsidiaries of Czech energy group CEZ in Bulgaria for EUR 335 million.
28 July 2021STATISTICS: Bulgarian market posted 6% increase in Q1 GWP
Bulgarian insurance market totaled BGN 807 million (EUR 413 million) at the end of March 2021, up by 6.1% y-o-y, according to the official quarterly figures from the Financial Supervision Commission - FSC.
Life insurers' GWP increased by an annual 16% to BGN 150 million, mostly driven by the 77% increase reported by UL life policies, while non-life insurers' GWP rose by 4% to BGN 657 million.
ALLIANZ Bulgaria Life was the biggest player on the life insurance market with GWP of BGN 42.5 million, while LEV INS was the largest insurer on the non-life insurance market with GWP of BGN 81.3 million in the review period, equal to a market share of 12.4%.
Life insurers' GWP increased by an annual 16% to BGN 150 million, mostly driven by the 77% increase reported by UL life policies, while non-life insurers' GWP rose by 4% to BGN 657 million.
ALLIANZ Bulgaria Life was the biggest player on the life insurance market with GWP of BGN 42.5 million, while LEV INS was the largest insurer on the non-life insurance market with GWP of BGN 81.3 million in the review period, equal to a market share of 12.4%.
22 July 2021Bulgarian insurers posted Q1 profits of EUR 40 m
Bulgarian insurance market posted aggregate quarterly profit of BGN 78.2 million (EUR 40 million), about 63% more as compared with the snapshot at 31 March 2020 (BGN 47.9 million/EUR 24.5 million), according to the market statistics published on FSC website.
20 July 2021BULGARIA: ABZ: agroinsurance is not standardized, which can lead to frustration among farmers
"Agroinsurance is not standardized and there are various offers on the Bulgarian market", said Nina Kolchakova, Secretary General of ABZ (Association of Bulgarian Insurers). Therefore, farmers should be aware of all the terms of the offer in advance to determine if it suits their needs, according to the ABZ.
15 July 2021EUROHOLD Raises EUR 80.5 million via Public Offering of New Shares
EUROHOLD Bulgaria AD, one of the leading independent financial and insurance groups in the SEE, raised EUR 80.5 million via a Public Offering of New Shares on the Bulgarian Stock Exchange (BSE).
8 July 2021Eurohold to sell the dealer of Dacia-Renault-Nissan auto brands in Bulgaria
Avto Union AD, part of Bulgarian Eurohold, signed a preliminary contract for the sale of its subsidiary N Auto Sofia EAD to Bulpharma OOD, a leading investor in healthcare services.
29 June 2021Bulgarian FSC granted the acquisition of NN's local units by DZI
Bulgarian FSC (Financial Supervision Commission) announced that it granted approval to local insurer DZI - Life Insurance (part of Belgian KBC) to acquire the Bulgarian pension and life insurance business of Dutch-based NN Group.
22 June 2021EUROHOLD, Q1: revenues from insurance business up by 1% y-o-y; GWP up by 6.4%
In Q1 2021, EUROHOLD Bulgaria AD, the largest Bulgarian public holding and one of the leading independent financial and insurance groups in the CEE/SEE/CIS region, reported revenues of approximately BGN 421 million (EUR 225.2 million), close to the 1Q 2020 level, right before the pandemics.
31 May 2021Bulgaria's CPC allow DZI to buy NN's Bulgarian pension, life insurance businesses
Bulgaria's Commission for Protection of Competition (CPC) has granted approval to local DZI - Life Insurance (part of Belgian KBC) to acquire the Bulgarian pension and life insurance business of Dutch-based NN Group, wrote seenews.com here.
25 May 2021Bulgaria's FSC Approved Eurohold's capital increase prospectus
Bulgaria's Financial Supervision Commission (FSC) approved urohold's capital increase prospectus, which will allow the Bulgarian holding to raise up to EUR 100 million by issuing new shares on the Bulgarian Stock Exchange (BSE).
4 May 2021STATISTICS: Non-life classes maintained the Bulgarian market in positive area
Bulgarian insurance market totaled BGN 2.88 billion (~EUR 1.47 billion) at the end of December 2020, down by 0.88% y-o-y, according to data from the Financial Supervision Commission - FSC.
15 April 2021Eurohold's shareholders approved capital increase
Bulgarian financial holding Eurohold, the owner of Euroins Insurance Group - announce it will increase its capital by issuing new shares on the Bulgarian Stock Exchange (BSE), "which will allow the company to raise up to EUR 100 million.
14 April 2021Bulgaria: Insurance brokers' business increased by 2% during 2020
The Bulgarian insurance brokerage market totaled BGN 1.72 billion (EUR 878 million) at the end of 2020, about 1.8% more y-o-y, as announced the local insurance market regulator FSC in a statement published on its website.
23 March 2021Bulgarian FSC puts Euroamerican into liquidation process
The Bulgarian Financial Supervision Commission informed that on March 11,2021 it took the Decision on on initiating proceedings for compulsory liquidation of non-life insurer Euroamerican.
23 March 2021Eurohold posted YE 2020 stable revenues despite Coronavirus pandemic
Bulgarian financial holding Eurohold, the owner of Euroins Insurance Group, announced stable revenues in 2020 compared to the financial results in 2019 when the economy was growing, according to the holding's preliminary consolidated unaudited financial report for the last year.
16 March 2021GEM to invest EUR 26 billion in Eurohold to support the acquisition of CEZ Group's business in Bulgaria
Bulgarian financial holding Eurohold has secured a EUR 26 million (USD 31 million) funding commitment from Gem Global Yield (GEM), a USD 3.4 billion Luxembourg-based alternative investment group focused on emerging markets. The two parties have already signed an agreement.
16 March 2021Bulgaria: Eurohold is issuing new shares on the stock exchange
Eurohold Bulgaria, owner of Euroins, intends to increase its working capital up to EUR 100 million by issuing new shares on the Bulgarian Stock Exchange (BVB). The main shareholders of Eurohold, including Starcom Holding AD, confirm their participation in the future capital increase.
3 March 2021KBC to expand its presence on Bulgarian market by acquiring NN operations
Belgian fiancial group KBC and the Netherlands-based NN Group announced they reached an agreement for KBC's Bulgarian subsidiary, DZI - Life Insurance, to acquire NN Bulgarian operations for a total consideration of EUR 77.7 million.
15 February 2021
