Euroins Romania, one of the leading insurance companies on the domestic market, announces the completion of the capital increase of RON 200 million, a press release informs.
„This is the solid proof of the full support of the shareholders of the company and commitment to succeed on the Romanian market. With the RON 200 million capital increase, Euroins Romania fulfils the basic capital requirement according to the new Solvency II regime”, the quoted document reads.
The procedures for the registration of the capital increase will be started after the market regulator approves the financial transaction.
At end-2015, Euroins Insurance Group (EIG) transferred RON 80 million for the capital increase of its Romanian subsidiary. According to CEO of EIG Kiril Boshov, the capital raise of Euroins Romania during the last year tops RON 175 million, representing one of the largest capital increases on the local insurance market in 2015.