AMCU grants permission to EBRD, Eurohold Bulgaria AD to acquire Euroins Insurance Group AD

KYIV. Feb 22 (Interfax-Ukraine) – The Antimonopoly Committee of Ukraine (AMCU) granted concentration permission through the acquisition by the European Bank for Reconstruction and Development (London, United Kingdom) together with Eurohold Bulgaria AD (Sofia, Bulgaria) of control over Euroins Insurance Group AD (Sofia, Bulgaria) with subsidiaries in Ukraine, according to the agency’s website.

It is also noted that the decision was made at a meeting of the Antimonopoly Committee of Ukraine on February 22.

As reported, Euroins Insurance Group (EIG), which is part of the public holding Eurohold Bulgaria, is represented in Ukraine by two insurance companies, Euroins Ukraine and European Travel Insurance.

Eurohold Bulgaria AD is a leading energy and financial group operating in Central, Eastern and South Eastern Europe. Key countries of activity are Bulgaria, Romania, Macedonia, Ukraine and Greece. It is listed on the Bulgarian and Warsaw Stock Exchanges. Eurohold is the owner of Electrohold, the leading energy group in Bulgaria with a 40% share in electricity distribution.

Eurohold’s insurance group Euroins Insurance Group (EIG) is consolidating its operations in the regional general insurance markets.

EIG provides a full range of insurance products, serves more than 4 million clients in 11 countries and employs more than 3,000 people.

Euroins Ukraine is a universal non-life insurer that has been operating on the Ukrainian market since 1992. The company has about 100 representative offices throughout the country, owns 25 licenses, of which 16 are for voluntary and nine for compulsory types of insurance.

Euroins Ukraine is a member of the Motor (Transport) Insurance Bureau of Ukraine. It actively operates in the segments of auto insurance, medical insurance, property, liability and cargo insurance for private and corporate clients.