Bulgaria
Eurohold seeks to acquire the remaining shares of the minority in CEZ Distribution and CEZ Electro
Bulgarian holding Eurohold announced that its energy subholding - Eastern European Electric Company (EEEC) and majority shareholder in CEZ Distribution Bulgaria and CEZ Electro Bulgaria, has registered with the Financial Supervision Commission (FSC) tender offers for the purchase of the shares of the minority shareholders in both companies.
11 April 2022STATISTICS: Bulgarian insurers' YE2021 net profits expanded by 65% y-o-y to EUR 145 m
Bulgarian insurance market ended 2021 with a total GWP of BGN 3.24 billion (EUR 1.66 billion), up by 12.73% y-o-y, according to the market figures from the Bulgarian Financial Supervision Commission (FSC).
6 April 2022BULGARIA: Life Insurance - Protection and Investment. Bulgaria ON AIR and ABZ bring together leading experts in a discussion on life insurance on April 10
The organizers of the debut project "Life Insurance - Protection and Investment" are ABZ (Association of Bulgarian Insurers) and Bulgaria ON AIR, the discussion will be broadcast on April 10 at 17:30, the Association said.
5 April 2022BULGARIA: Konstantin VELEV, Chairman of ABZ: Life insurance is booming
Life insurance is marked by a remarkable rise, the growth rate is ahead of the non-life insurance, which is a relatively rare situation for the Bulgarian market. As of October 2021, GWP in life insurance reached BGN 483 million (+34%) (~EUR 247 million), and paid claims increased by 23% to BGN 181 million, the Association said.
30 March 2022BULGARIA: MoitePari.bg and ABZ study: Lack of information is the main reason for lack of interest in life insurance
In Bulgaria, the lack of interest in life insurance is due to lack of information, according to the study conducted by the website MoitePari.bg and the Association of Bulgarian Insurers, aimed at establishing consumer attitudes towards life insurance products with a total of 371 participants, the Association said.
15 March 2022Eurohold announced the rebranding of CEZ Group's subsidiaries in Bulgaria
Eurohold -the largest public Bulgarian holding and one of the largest financial and energy groups in Southeast Europe announced the rebranding of the group's energy operations in Bulgaria.
14 March 2022BULGARIA: ABZ: MTPL prices has increased since the mid-2021 by about 10%
According to Konstantin VELEV, chairman of ABZ (Association of Bulgarian Insurers), "a gradual increase in MTPL prices has been observed since the mid-2021 - by about 10% compared to the beginning of last year", ABZ announced on its website.
8 February 2022Bulgaria: Insurers' Q3 net profits expanded by 37% y-o-y to EUR 124 m
Bulgarian insurance market posted aggregate 9 months 2021 net profit of BGN 242.2 million (EUR 123.8 million), 37% more as compared with the snapshot on 30 September 2020 (BGN 176.8 million/EUR 90.4 million), according to the market statistics published on FSC website.
17 January 2022BULGARIA: in 10M2021 the life insurers' business up 34% y-o-y, while the non-life went up 8.1%
In 10M2021 the combined net profit of life insurance companies in Bulgaria increased to BGN 52.5 million (EUR 26.8 million) from BGN 21.9 million in the like period of 2020, SeeNews reports with reference to the country's financial regulator.
17 January 2022STATISTICS: Bulgarian insurers posted double-digit increase in January-September business
Bulgarian insurance market totaled BGN 2.44 billion (EUR 1.24 billion) at the end of September 2021, up by 12.7% y-o-y, according to the official quarterly figures from the Financial Supervision Commission - FSC.
17 January 2022BULGARIA: in 9M2021 the insurers' assets rose to EUR 5.06 billion
For the first 9 months of 2021 the assets of Bulgarian insurers increased by 9.3% y-o-y to about BGN 9.9 billion (~EUR 5.06 billion*), SeeNews wrote according to the statement of the country's central bank said.
15 December 2021KBC acquires Bulgarian ops of Raiffeisen Bank International for EUR 1.02 bn
Belgium-based KBC Bank and Austria-based Raiffeisen Bank International ('RBI') reached an agreement for KBC to acquire 100% of the shares of Raiffeisen bank (Bulgaria) EAD, comprising RBI's Bulgarian banking operations.
22 November 2021Eurohold will hold over 88% of CEZ Distribution and more than 69% of CEZ Electro
The majority shareholder of CEZ Distribution Bulgaria AD and CEZ Electro Bulgaria AD - Eastern European Electric Company B.V. (EEEC), part of urohold Bulgaria AD, will increase its interests in the two companies to 88.2% and 69.3% of the capital, respectively, as a result of the public tender offers carried out and following the completion of the deals with the shareholders that have accepted the offers.
15 November 2021FSC approved the EEEC tender offers for CEZ Distribution and CEZ Electro
Last week, Bulgaria's FSC (Financial Supervision Commission) has approved the EEEC revised public tender offers for the acquisition of the remaining 33% interests it does not own in power distributor CEZ Distribution Bulgaria and power supplier CEZ Electro Bulgaria.
18 October 2021STATISTICS: Double-digit H1 GWP growth rate for Bulgarian insurers
Bulgarian insurance market ended the first half of the year with a total GWP of BGN 1.63 billion (EUR 836 million), up by 12.9% y-o-y, according to the market figures from the Bulgarian Financial Supervision Commission (FSC).
12 October 2021Agreement signed for EBRD to become shareholder of Euroins
European Bank for Reconstruction and Development (EBRD) and Eurohold, owner of Euroins Insurance Group - a regional player operating on 13 CEE and CIS countries, have signed an agreement by which EBRD aims to take over a minority stake in Euroins insurance operations.
10 September 2021BULGARIA: Eurohold Bulgaria aims to acquire the remaining 33% shareholding interest in Sofia-based CEZ Distribution and CEZ Electro
Financial and insurance group Eurohold Bulgaria aims to acquire the remaining 33% shareholding interest in Sofia-based CEZ Distribution and CEZ Electro for a total of BGN 219.2 million (EUR 112 million), SeeNews informed.
13 August 2021KBC 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 2021
