Eurolns Insurance Group

EIG has pursued an aggressive expansion strategy through numerous acquisitions. Key milestones include acquiring a majority stake in Euroins Romania in 2008, followed by acquisitions of Interamerican Bulgaria in 2013, QBE's businesses in Bulgaria and Romania, and HDI Zastrahovane in 2015. The group continued its expansion by purchasing the non-life portfolio of ATE Insurance Romania in 2017 and acquiring ERV Ukraine, a travel insurance business, and IC Group in Georgia in 2018. This growth strategy positioned EIG as a significant regional player, serving over 4 million customers across 11 to 13 countries, including Bulgaria, Romania, Greece, Poland, North Macedonia, Georgia, and Ukraine, with a workforce of over 3,000 employees.

The group provides a comprehensive range of general, health, and life insurance products. Its portfolio is diversified, with motor insurance accounting for 40% and other sectors representing 60%. Products include motor, property, health, travel, accident, and liability insurance for both individual and corporate clients. In Greece, for example, the company offers motor, home, personal accident, and surety bond insurance, with plans to add large business, travel, and professional liability products. The business model relies on generating revenue through gross written premiums, which saw significant growth over the years, reaching €614 million in the first nine months of 2022.

A significant development in EIG’s corporate structure was the investment by the European Bank for Reconstruction and Development (EBRD). In October 2021, the EBRD acquired a minority stake in EIG through a €30 million capital increase, supplemented by a €12 million injection from Eurohold. This investment aimed to stabilize the insurance sector, support the growth of Euroins Romania, and enhance operations in other key markets. However, the group faced a major setback in 2023 when its largest entity, Euroins Romania, had its operating license revoked by the Romanian Financial Supervisory Authority (ASF) due to insolvency. This led to a final bankruptcy ruling in early 2025, marking the fourth major insurance failure in Romania's recent history. Despite this, the broader group continues its operations, with shareholders like EBRD and the parent company, Eurohold, undertaking restructuring efforts, including a significant capital increase in February 2025 to support the markets in Poland and Greece. Keywords: general insurance, CEE insurance, SEE insurance, Eurohold Bulgaria, property & casualty insurance, motor insurance, health insurance, life insurance, insurance acquisitions, Balkan insurance market, Romanian insurance, Bulgarian insurance, Greek insurance market, travel insurance, corporate insurance, personal insurance, asset protection, risk management, insurance group, financial services