November 16 (SeeNews) - The premium income of Bulgarian insurer Euroins [BUL:5IC] fell 11.2% on the year to 44.2 million euro ($47.3 million) in the first ten months, parent company Eurohold Bulgaria [BUL:4EH] said on Wednesday.
In October alone, Euroins' total premium income recorded an annual increase of 15.3% to 5.9 million euro, Eurohold said in a bourse filing.
The reinsurance segment generated only 1.8 million euro in premium income in January-October, which represents an 86.8% decrease on the year. The segment contributed a premium income of 412,000 euro in October, a 55.5% decrease compared to October 2015.
Euroins' premium income from property insurance generated 1.5 million euro in October alone, which represents a 136% increase in comparison to the same month last year. However, property insurance premium income for the January-October period is still 19.6% below last year's level, standing at 3.5 million euro.
The company’s general motor insurance business generated 9.5 million euro in premiums in the first ten months, up 4.2% from a year earlier.
Third-party liability insurance premiums increased to 20.7 million euro in the January-October period, up 43.6% on the year.
Euroins is a unit of Euroins Insurance Group (EIG), part of Eurohold Bulgaria.
($ = 0.9339 euro)
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