Bulgaria’s EIG completes acquisition of ERGO Belarus
<p> MINSK, May 29 – PrimePress. Euroins Insurance Group AD, a leading insurance group operating in Southeast Europe and a part of Eurohold Bulgaria AD, has completed the acquisition of ERGO Belarus from Germany’s ERGO. </p> <p> </p> <p> The amount of the deal is not disclosed. The transaction was covered by the law firm Sorainen, which operates in Estonia, Latvia, Lithuania and Belarus. </p> <p> </p> <p> As a result of the transaction, Euroins has entered the insurance market of Belarus. Over the last few years Euroins has already acquired several insurance businesses in Bulgaria, Georgia, Romania, Russia and Ukraine, including its former Ukrainian subsidiary ERGO. </p> <p> </p> <p> ERGO Belarus will adopt the Euroins brand. </p> <p> </p> <p> ERGO Belarus booked a gross premium income of 10 million euro ($10.9 million) in 2019, holding a market share of some 2%. The company closed the year with a slim net profit of 150,000 euro. </p> <p> </p> <p> EIG operates in nine European countries and owns insurance subsidiaries in Bulgaria, Romania, North Macedonia, Ukraine and Georgia. End </p>
2020-05-30
Primepress
Bulgaria’s EIG completes acquisition of ERGO Belarus
MINSK, May 29 – PrimePress. Euroins Insurance Group AD, a leading insurance group operating in Southeast Europe and a part of Eurohold Bulgaria AD, has completed the acquisition of ERGO Belarus from Germany’s ERGO.
The amount of the deal is not disclosed. The transaction was covered by the law firm Sorainen, which operates in Estonia, Latvia, Lithuania and Belarus.
As a result of the transaction, Euroins has entered the insurance market of Belarus. Over the last few years Euroins has already acquired several insurance businesses in Bulgaria, Georgia, Romania, Russia and Ukraine, including its former Ukrainian subsidiary ERGO.
ERGO Belarus will adopt the Euroins brand.
ERGO Belarus booked a gross premium income of 10 million euro ($10.9 million) in 2019, holding a market share of some 2%. The company closed the year with a slim net profit of 150,000 euro.
EIG operates in nine European countries and owns insurance subsidiaries in Bulgaria, Romania, North Macedonia, Ukraine and Georgia. End