The FSC approved the deal between Euroins Interamerican

Publish date 04 October 2013
The FSC approved the deal between Euroins Interamerican image

The Financial Supervision Commission has authorized the transfer of the entire insurance portfolio of Interamerican Bulgaria and Interamerican Life Insurance to Euroins Insurance Group, it is clear from a decision of the institution.
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. According to data from the Financial Supervision Commission as of July 31, 2013, Interamerican Bulgaria holds 2.05 percent of the non-life insurance market, and Euroins has 5.33 percent.
Together, after the deal is finalized, the two companies would have 7.38%, which will place the company in seventh place in the country. For its part, Interamerican Bulgaria Life Insurance has a share of 1.12 percent in the life insurance market in Bulgaria.