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Bulgarian insurer Lev Ins seeks shareholders nod for cap hike

Author Mario Tanev
Bulgarian insurer Lev Ins seeks shareholders nod for cap hike tanatat/Shutterstock.com

SOFIA (Bulgaria), June 6 (SeeNews) - Bulgaria's Insurance Company Lev Ins said that it is seeking the approval of its shareholders to increase its capital via a new share issue.

Lev Ins shareholders will vote on the proposal at a general meeting scheduled for June 30, the company said last week in an invitation for the meeting.

The insurer did not provide further details about its capital increase plans.

According to the document, Lev Ins is also planning to skip dividend distribution and allocate its net profit in 2018 to its reserve fund.

Lev Ins currently has a registered capital of 43.3 million levs ($25.0 million/22.1 million euro), according to commercial register data.

(1 euro = 1.95583 levs)

 

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