Insurance & leasing holding Eurohold Bulgaria reported 78% increase y-o-y in revenues to BGN 398m as of June 2015 – this is what the Q2 corporate earnings report, prepared by ELANA Trading analysts, showed.
The experts commented that Eurohold’s performance came from the growth of premium income of the insurance companies of the Group. It is a consequence of the growing market but also follows the sound reforms in the business in Romania and Bulgaria.\
The profits, however, are below break-even. Moreover, investors on the Bulgarian Stock Exchange are not positive either and the market reaction to the inflection point we see in Eurohold’s insurance operations is negative. The stock underperforms the broad market and is 25% down for the past 12 months.
The insurance sector has excellent prospects for devel-opment in the region when comparing to the developed countries in EU. The insurance penetration and more importantly the premium income per insurance are better than the averages in Bulgaria and Romania. The sector relies on the car insurances and property insurances and life-insurance have very low share in total premium income
Who is Eurohold Bulgaria
Eurohold Bulgaria is a holding company specialized in financial services, including insurance and leasing, along with the car dealership. The Group operates mainly in Bulgaria and Romania but also expanded in Macedonia and Ukraine after acquiring smaller companies in the region. The sectors in which Eurohold has significant presence are fast growing and will benefit the most from the growth of personal income and the economy as a whole.