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Euroins acquires the business of Interamerican in Bulgaria

Publish date 21 August 2013
Euroins acquires the business of Interamerican in Bulgaria image

Ahmea and Euroins Insurance Group signed an agreement for the Bulgarian insurance companies Interamerican Bulgaria and Interamerican Life Insurance. The agreement concerns the transfer of Ahmea's insurance activities to Bulgaria.
The deal is expected to be completed in the second half of 2013 after approval by regulators. With this transaction Euroins Insurance Group will acquire all insurance licenses - for general and life insurance and health insurance.
The company will be able to offer its current and future customers a full range of combined insurance products, said the executive director of Euroins Kiril Boshov. According to data from the Financial Supervision Commission as of June 30, 2013, Interamerican Bulgaria holds 2.13 percent of the non-life insurance market, and Euroins has 5.6 percent. Together, the two companies would have 7.73%, which would place the company in seventh place in the country. For its part, Interamerican Bulgaria Life Insurance has a share of 0.6 percent in the life insurance market in Bulgaria.
The shares of Euroins AD reacted with a slight increase in the news, as after the first hour of trading on the position 4600 shares were traded at levels from 0.899 to 0.918 BGN per share, or 2.46 percent more expensive than yesterday.