Eurohold Bulgaria asks compensation from Romania for bankruptcy of local insurance subsidiary

Bulgarian group Eurohold and its insurance division Euroins Insurance Group AD (EIG) have officially informed the Government of Romania of their intention to request international arbitration to protect the group's investment in Romania unless the current dispute regarding Euroins Romania is quickly resolved and the damages caused to the group are compensated accordingly.

The Bucharest Tribunal ordered in June this year the opening of bankruptcy proceedings for Euroins Romania Insurance Reinsurance.

The announcement came from the Financial Supervisory Authority (ASF), which also clarified that Euroins policies, aside from the guarantee policies, are valid until September 8, 2023.

On March 17, 2023, ASF decided to withdraw the operating license of Euroins Romania, also noting the insolvency status of the company.

(Photo source: Euroins Romania)