Euroins Insurance JSC, one of the leading insurers in Bulgaria, part of Euroins Insurance Group AD (EIG), has successfully realized its plan to hike its capital two times to 32.5 million euro and as a result the value of the company’s capital indicators has surpassed by far the ones required by the Solvency II Directive. The Bulgarian insurer achieved 120% SCR ratio.
On 30th Oct 2017, Euroins Insurance JSC’s management board decided to increase its capital from BGN 16.47 million to BGN 32.47 million via the issuance of 16 million new shares with a nominal value of BGN 1 each and issued at the same price apiece. All new shares have been subscribed and paid in by EIG, the majority shareholder of the insurer. Subsequently, EIG transferred BGN 16 million, the required amount of money necessary to pay the capital hike. The changes were entered into the country’s commercial register on 7th Dec 2017.
