Euroins Insurance Group strengthens its management with new managers and board

December 21, 2023

The new board and management of EIG will continue efforts to implement the strategic goals of the holding

Euroins Insurance Group (EIG), one of the leading insurance groups in Southeast Europe, part of Eurohold Bulgaria, elected a new Board of Directors, composed of Assen Christov, Kremena Pateva, Todor Danailov and Irena Lalova. Assen Christov is a Chairman of the Board, Kremena Pateva and Todor Danailov have been appointed as executive directors. The change is registered in the Bulgarian Commercial Register. Ivan Kostov, Group Chief Financial and Risk Officer, Vangel Spirov, Group Chief Compliance Officer, and Irena Lalova, Group Chief Legal Officer and Мember of the Board have also joined the Group's management.

Assen Christov is the Chairman of the Board of EIG and also of the Supervisory Board of Eurohold Bulgaria, a leading energy and financial group in Eastern and South-Eastern Europe, owner of one of the largest electricity groups in Bulgaria - Electrohold. He has more than 30 years of experience as a manager. He has a Master's degree in Physics from St. Kliment Ohridski University and specialized management at the Open University - London.

Kremena Pateva, one of the two new CEOs, has held various management positions at EIG. She has worked for more than 14 years in the insurance sector and since 2016 has been the Director of Risk Management at the Holding. In this position she is responsible for aligning all of EIG's systems and processes to the requirements of the European Solvency II Directive. Ms Pateva holds a Bachelor's degree in Mathematics and a Master's degree in Business Administration and Management from the Technical University - Sofia. 

The other CEO of EIG - Todor Danailov, has more than 20 years of managerial experience in the insurance sector. He holds a Master's degree in actuarial sciences from Dimitar A. Tsenov Academy of Economics. Since the establishment of EIG in 2007, he has managed the Group's reinsurance business. Danailov also led the market entry of Euroins in Spain, which was the first entry of a Bulgarian company in Western Europe under the EU Free Services Directive. From 2007 to 2011 he was a member of the Board of Directors of the National Bureau of Bulgarian Motor Insurers.

Group Chief Legal Officer and Мember of the Board, Irena Lalova will manage the legal department and legal operations of EIG. She has 17 years of experience in insurance and started her career at Euroins Bulgaria, successively holding the positions of legal consultant and director of the legal department, and in the period 2019-2023 she is an independent board member of the Bulgarian division of the group - Euroins Insurance Company (Euroins Bulgaria). She has specialization in civil, commercial, and administrative law. 

Group Chief Finance and Risk Officer, Ivan Kostov joins the EIG team with more than 13 years of experience in finance and banking. He has experience in M&A, fintech and debt structuring. He has worked as Head of Technical Business Analysis for a leading software and CRM systems development company for financial institutions, and prior to that was a manager and consultant at leading accounting companies. From 2016 to 2019 he was Director of Corporate Credit Approval at one of the largest commercial banks in Bulgaria. He has a Μaster's degree in Finance and Banking from Sofia University "St. Kliment Ohridski” and in Mathematical Modelling in Economics. 

Group Chief Compliance Officer, Vangel Spirov, holds a Master's degree in Law from St. Kliment Ohridski University. He specialized in the University of Hamburg and Dresdner Bank AG in Germany. He started his career in 2001 and moved through various management levels in the legal departments of leading commercial banks.

The new board and management of EIG will continue efforts to implement the strategic goals of the holding - improving profitability of the Group’s companies, creating a resilient management structure of EIG and its subsidiaries, and restructuring the key activities of Euroins Bulgaria.