Asitrans changes name to EuroIns

Asitrans, which was recently taken over by Bulgarian Eurohold group, is expected to change its name to EuroIns, with the decision set for debate during a general meeting of the shareholders at the end of November. The name, EuroIns, is the same as the Bulgarian group’s insurance company. During the same meeting, company shareholders will discuss a proposed reduction in the number of directors from seven to five by removing Florian Mihut and Gabriel Mirescu from the board of directors, with the latter set to become the company’s founding chairman. Eurohold group became Asitrans shareholder at the end of June, when it bought 75% for 12.5 million euros. Part of this sum (around 3.7 million euros) was used for a capital increase by the insurer, which now has a capital worth 7.4 million euros. Along with Asitrans, the Bulgarians also took over Asitrans Leasing, a small player on the leasing market. The insurer ended the first nine months with turnover worth 19.7 million euros (over 65 million RON), a 41% increase on the same time last year. Out of the total gross underwritten premiums, 80% came from motor insurance contracts (comprehensive and auto liability insurance). Gross profit estimated for the first nine months stands at around 150,000 euros.