Bulgaria's Star Motors, the main local distributor of Mitsubishi vehicles, will open a sales and service centre in Macedonia by the end of April, its parent company Eurohold Bulgaria said on Monday. The centre, which will be located in Skopje, will have a 500 square metre showroom and a 500 square metre workshop, Eurohold Bulgaria said in a bourse filing. Eurohold Bulgaria entered the Macedonian market in 2008 through insurer Euroins and leasing company Eurolease Auto, whose market share in the country reached 7.3% in 2012. Star Motors is fully owned by Avto Union (www.avto-union.com), the holding company incorporating Eurohold Bulgaria's investments in the auto sector. It sells vehicles of the Fiat, Alfa Romeo, Lancia, Maserati, Opel, Chevrolet, Mazda, Nissan, Renault and Dacia auto brands.
Source: Darik Radio (09.04.2013)

Two insurance companies-Lev ins and Bul ins are holding a total of 46% of the market of insurance against civil liability in the country. The leader Lev ins has a share of over 29% on the market, while Bul ins is holding more than 16%. Third in the rating are Bulstrad insurance group with a share of 8.68%, followed by DZI with a share of 8.58%. Armeec is fifth in the rating, followed by Euroins and Uniqa.
Source: profit.bg (25.06.2013)

Euroins is to acquire Interamerican’s business Dutch financial group Achmea will sell its insurance business in Bulgarian-Interamercian to its local competitor Euroins. The deal is not expected to bring serious friction on the market, but it is a signal for the need of consolidation on it. Lack of growth on the Bulgarian insurance market makes it probably unattractive to foreign investors. Interamercian’s business has shrunk significantly in recent years in terms of premium revenues. At the same time the company has accumulated big losses, too. The deal is expected to be put to an end soon. It is to include sale of both general insurance and life insurance sections of Interamerican in Bulgaria. In the mother company’ s financial reports for the second quarter of 2013 it is explicitly said that Interamerican insurance company and Interamerican Bulgaria Life Insurance are considered as assets for sale. Thus Achmea’s strategy includes withdraw from the Bulgarian insurance market - either by selling the subsidiaries themselves, or through the sale of their insurance portfolio.
Source: Capital (21.08.2013)

Nearly 52% of the market for òhird-party liability vehicle insurance in Bulgaria is held by three insurance companies. Leader in this regard is Lev Ins, followed by Bul Ins and Vienna Insurance Group. Lev Ins increased its gross premium income of over 11% from a year earlier, while growth in Bul Ins is more than 120%. Despite the low returns on this type of policy, Bulstrad managed to maintain its third position, ahead of DZI and Armeec. Over 10 million premium income for the first six months were reported by Euroins, Unica and Municipal Insurance Company.
Source: profit.bg (23.08.2013)

Euroins has increased its share in the capital of Synthetica JSC from 149,683 to 155,983 shares, the company informed. After the change, the shareholding Euroins is 5.199% in the share capital of the public company. Synthetica JSC is listed on the Bulgarian Stock Exchange on May 20, 2013. The company is a production holding, consolidating businesses od Plastchim - T JSC, Etropal and is a minority shareholder in Formoplast JSC. Etropal and Formoplast are public companies traded on the Bulgarian Stock Exchange - Sofia.
Source: profit.bg (11.11.2013)