May 4 (SeeNews) - Bulgarian financial and insurance group Eurohold Bulgaria [BUL:4EH] said on Monday that its unit Euroins Insurance Group (EIG), has completed the acquisition of ERGO Belarus from Germany's ERGO.
ЕIG is still waiting to receive regulatory approval to acquire ERGO Germany's subsidiaries in Romania and the Czech Republic, Eurohold Bulgaria said in a bourse filing.
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EIG agreed the acquisitions in March 2019.
ERGO Belarus will adopt the Euroins brand.
ERGO Belarus booked a gross premium income of 10 million euro ($10.9 million) in 2019, holding a market share of some 2%. The company closed the year with a slim net profit of 150,000 euro.
EIG operates in nine European countries and owns insurance subsidiaries in Bulgaria, Romania, North Macedonia, Ukraine and Georgia.
($ = 0.9137 euro)