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Bulgaria's Evrohold buys controlling stake in Romanian insurer

Date: 29.06.2007

Bulgarian diversified holdings company Evrohold said on Thursday that it bought a majority stake in Romanian insurer Asitrans Asigurari and its leasing subsidiary, Asitrans Leasing.

The deal remains subject to approval by Romania's insurance sector regulator CSA, Evrohold said in a statement to the Bulgarian Stock Exchange, where it is listed.

After completing the acquisition of Asistrans, Evrohold expects its insurance premium revenue to rise to BGN 130 M this year and BGN 180 M in 2008.

Evrohold owns Bulgarian insurer EuroIns and has targeted market shares of 3-5% in all Balkan countries.

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