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.
Source: profit.bg