Insurer Euroins Romania improves revenues but remains in the red

Euroins, one of Romania's biggest insurance companies, recorded a 4% increase in gross premiums (revenues) in the first nine months of this year compared to the similar period of 2019, to RON 1 bln (nearly EUR 200 mln).

However, the company recorded a loss of RON 29 mln (EUR 6 mln) at the end of the first nine months of 2020, according to information published in the report of the Bulgarian group Eurohold, its majority shareholder, Ziarul Financiar reported.

Euroins Romania is the third-biggest player in the local general and life insurance market.

There was a significant increase in the volume of credit insurance, for which the company reported in Q3 gross written premiums amounting to BGN 6.2 mln (RON 15.4 mln, EUR 3 mln) compared to BGN 915,000 for Q3 2019.

Euroins was the fourth-biggest insurer in Romania in 2019 and the second-largest player in the mandatory car insurance (RCA) segment. In October this year, the Financial Supervisory Authority (ASF) sanctioned the company with RON 2.1 million (EUR 430,000) fines and suspended its managers for irregularities.

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