Bulgarian insurer ups business in Romania by 61%

Bulgarian insurer Euroins’ Romanian subsidiary recorded gross written premiums of EUR 81 million in the first six months of the year, compared to EUR 50.2 million in the same period in 2014. The company improved its results, as it implemented a strategy based on its portfolio’s segmentation. It also introduced new rating indices based on statistically significant risk factors. The insurer paid compensation amounting to EUR 59 million in the first half of the year, up 59% compared to the first semester of 2014, reports local Economica.net. The average compensation for all lines of business decreased by 5% in the first semester of 2015. Euroins shareholders plan to increase the company’s capital by another EUR 22 million (RON 100 million), after they recently finalized a similar capital increase. The company had EUR 14.3 million losses in 2014, the highest in the local insurance market. editor@romania-insider.com