Euroins Insurance Group (Bulgaria), which includes Euroins Ukraine (Kyiv), in 2017 increased revenue by 19%, for the first time exceeding BGN 1 billion (EUR 512 million), and quadrupled net profit to BGN 42 million (EUR21.5 million), according to a press release from Euroins Ukraine.
It is also noted that in general the income of Eurohold Bulgaria AD, which includes Euroins Insurance Group, in 2017 increased by 18% compared to the previous year and amounted to BGN 1.2 billion (about EUR615 million). Net profit increased by almost 2.4 times, to BGN 24.4 million (EUR12.5 million), while operating profit (EBITDA) by 65%, to BGN 57.6 million (EUR29 million).
The holding’s net worth as a whole increased to almost BGN 215 million (EUR110 million), while its assets grew by 17%, to BGN 1.33 billion (EUR681 million).
The press release says on April 17, 2018 Euroins Insurance Group purchased Ukraine’s European Travel Insurance (ERV) from the German company ERGO, owned by MunichRe concern.
PJSC Euroins Ukraine has been operating in the Ukrainian insurance market for 25 years. The regional network of Euroins Ukraine covers 26 cities of Ukraine. The weighty share in the company’s portfolio is occupied by KASKO, which is one of the priority activities. The strategy of Euroins Ukraine foresees occupying 5-10% of the Ukrainian insurance market.
