The company raised its capital by RON50 million in June and another RON50 million in December, Euroins Romania said in a statement Tuesday.
Euroins Romania was set up in 1994 under the name Asitrans and operates the general insurance segment.
In 2013, Euroins Romania underwrote premiums of EUR115 million, up 13% from 2012, placing the company among the top ten insurance companies in Romania. Over 90% of underwritings were registered on the RCA segment.
This is the ninth capital hike since Euroins Insurance Group (EIG) took over Euroins Romania in 2007 and raises the value of investments in the Romanian subsidiary to nearly EUR70 million, which places the Bulgarian group among the top five investors in the Romanian insurance market, the company said.
The company’s shareholders are Euroins Insurance Group PLC (Bulgaria), with a 92.3% stake, and several individuals and legal entities, with a 7.7% stake.