December 16 (SeeNews) - The premium income of Bulgarian insurer Euroins [BUL:5IC] fell 8.2% on the year to 49 million euro ($51 million) in the period January-November, its parent company Eurohold Bulgaria [BUL:4EH] said on Friday.
In November alone, Euroins' total premium income recorded an annual increase of 32.6%, to 4.8 million euro, Eurohold said in a bourse filing.
Third-party liability (TPL) insurance was responsible for nearly half of the premiums, generated by the company in the first eleven months of the year. The premiums from this segment amounted to 23.5 million euro, up 44.9% year-on-year. In November alone, premiums from TPL insurance rose by an annual 55.4% to 2.7 million euro.
The company’s general motor insurance business generated 10.6 million euro in premiums, an annual increase of 9.5%. Premium income from the segment in November alone rose 94.8% year-on-year to 1.1 million euro.
Breakdown by insurance businesses (in millions of euro):
|
Jan-Nov'16 |
Jan-Nov'15 |
pct change |
General motor insurance |
10.6 |
9.7 |
9.5% |
Third-party liability insurance |
23.5 |
16.1 |
44.9% |
Property insurance |
3.7 |
4.9 |
-23.7% |
Reinsurance |
1.8 |
13.7 |
-86.8% |
Other |
9.5 |
9.0 |
5.1% |
Source: Eurohold Bulgaria
Euroins is a unit of Euroins Insurance Group (EIG), part of Eurohold Bulgaria.
($ = 0.9605 euro)
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