Insurer QBE Agrees to Transfer Bulgarian, Romanian Ops to Euroins Insurance Group

Insurer QBE Agrees to Transfer Bulgarian, Romanian Ops to Euroins Insurance Group

Australian insurance company QBE has signed an agreement with Bulgarian peer Euroins Insurance Group to transfer its operations in Bulgaria and Romania for an undisclosed amount, the buyer's parent company Eurohold Bulgaria said.
The deal is in line with QBE’s expansion plan based on a strategic market review and with Euroins’ aim to strengthen its position on the regional market, Eurohold said in a filing with the Sofia stock exchange.
QBE Bulgaria and QBE Romania will continue to support the local markets and will work together to after the acquisition of QBE’s existing books of insurance business.
Euroins Insurance Group has some 7.0% market share in Bulgaria, Romania and Macedonia.

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