Euroins Romania Asigurare Reasigurare SA announces the implementation of complex financial rebalancing measures through which the company consolidates its foundation with two successive capital increases worth over 126 million lei.
The first capital increase, worth 50 million lei, was carried out on December 2nd. A day later, on December 3rd, the Extraordinary General Meeting of Shareholders of Euroins Romania approved and carried out the conversion of two subordinates debts amounting to 76 milion lei into working capital. The two subordinates debts have been granted in June and August to Euroins Romania by the parent company Euroins Insurance Group.
With these two successive capital increases, Euroins Romania significantly strengthens its capital position in line with its further strategy to decrease its exposure in Mtpl and to diversify its portfolio. The completion of these economic measures and capital infusions indicates the long-term commitment of shareholders and investors to Euroins Romania and the Romanian insurance market.Currently, the financial strength of Euroins Romania Asigurare Reasigurare SA is in line with the goals and tasks that await the company for the near future. With the steps taken the shareholders show they commit to further invest in the Romanian insurance market.
“The company is focusing on continuously increasing the quality and diversification of its insurance portfolio, with the main objective of maintaining and strengthening the company’s market position and continuously improving financial results. The main objective of Euroins Romania Asigurare Reasigurare SA is to be a relaible and stable partner for its clients and intermediaries.” Jeroen van Leeuwen, Member of the Board.