EUROINS receives credit rating from BCRA
On 5 December 2014, BCRA Credit Agency (BCRA) issued EUROINS Insurance AD an iBBB long-term Credit Rating for the Ability to Pay Claims (Outlook: Stable).
According to BCRA’s rating scale, the above mentioned long-term credit rating is an investment category and represents “moderate Ability for claims payment”. The stable outlook reflects the expectations to keep the same rating category within one year.
Despite the uncertain market environment in the observed period - from 2009 to the first half of 2014 EUROINS Insurance AD generated gross written premium well above the market average and increased significantly its market share. Other positive factors include the steps taken to diversify the insurance portfolio through increase of the share of Property and Liabilities lines of business – the turning point here being the acquisitions of INTERAMERICAN Bulgaria and of the Bulgarian business of QBE. The Company continues to target new acquisitions and markets.