Eurohold Informs about Measures Taken to Protect the Interests of Shareholders, Creditors and Investors after the Attack on Euroins Romania
With reference to the publicly disseminated information about a coordinated attack by employees of the insurance supervisory authority in Romania against the local subsidiary of Euroins, the management of Eurohold Bulgaria AD informs that the company has taken all possible operational and legal measures to protect the interests of shareholders, creditors and investors.
Along with in-house experts, the company has engaged a solid team of external consultants with diverse expertise and will continue efforts to finalize the case in Romania in accordance with European law. The holding declares that it will not allow any compromise that would harm the company and the interests of its shareholders, investors and creditors.
The management and the main shareholders of Eurohold are confident that the actions taken will ensure the financial stability of the company. All subsidiaries of the holding are operating normally. In the latest reporting period (as of September 2022), Eurohold posted the best consolidated results in its history due to strong performance of both the group's insurance and energy businesses. The expectations are that this upward trend will continue in the coming quarters. Trading in financial instruments of the company on the Bulgarian and Warsaw Stock Exchanges will continue in the usual market rhythm.
Eurohold’s management is grateful to all the competent state authorities and responsible European institutions that responded and took action after the company reported an organized attack against Euroins Romania. The company's management has the support of all its major and key minority shareholders, including the European Bank for Reconstruction and Development (EBRD). At the end of 2022, the Financial Supervision Commission in Bulgaria approved the acquisition of a minority stake in Euroins Insurance Group AD (EIG), Eurohold’s subsidiary, by the EBRD. The transaction was preceded by a detailed and complete audit of the financial position of the insurance group and its subsidiaries, including Euroins Romania.