Euroins, one of the biggest insurance companies in Romania, recorded a 7% increase in gross premiums (revenues) in the first half of this year compared to the similar period of 2019, to RON 662 mln (EUR 138 mln).

Meanwhile, the compensations paid to policyholders increased by 25%, to RON 504.5 mln (EUR 105 mln), the company said in a press release.

The company’s board approved a capital increase of RON 100 million (EUR 20.8 mln).

Euroins was the fourth-biggest insurer in Romania in 2019 and the second-largest player on the mandatory car insurance (RCA) segment.

The company has been fined by the Financial Supervisory Authority (ASF) three times in the last year for delays in paying compensations. Moreover, several car repair companies in Romania asked for the insolvency of Euroins for delayed payments. Meanwhile, the insurer accused these companies of abuses and issuing inflated bills.

Euroins is part of Bulgarian group Eurohold.

editor@romania-insider.com

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