MIB participated in the share capital increase with insurance premium of Insuretech, paying RON148,095 for the above-mentioned ownership stake, as per a report published at the Bucharest Stock Exchange on May 17.
“The investment occurs in the context in which the company INSURETECH SRL has created and presented a very promising demonstrative variant of a new insurance brokerage software, with cutting-edge technology, which is expected to be used in the future by more insurance brokers in Romania”, according to MIB representatives.
MIB shares have been trading down 1.2% over the last month. With a market capitalization of nearly RON36 million, the company is 32%-owned by mobility network Autonom Services, which has bonds listed at the Bucharest Stock Exchange.
MIB had a profit of RON1.9 million in the first quarter of 2023, up 40% on the year, and revenue of RON15.6 million, up 10% from Jan-March 2022.