Interamerican increases capital

On February 13, the shareholders of Interamerican Romania will be discussing an increase of the company”s share capital by 1.7 million euros through a contribution in cash. “The capital inflow is aimed at developing the sales network and increasing the number of partnerships with various medical service providers”, stated the financial manager of Interamerican Romania, Emilia Bunea. The company currently has a 38.89 million-RON share capital (almost 11 million euros). Last year, the company increased its share capital two times by a total of 6.23 million euros. Interamerican closed 2004 with underwritten premiums worth 47.19 million RON and losses worth 4.59 million RON. As for the results for 2005, Bunea only said that, according to preliminary data, the company had ended the financial year in the red, while underwritten premiums for both types of insurance (general and life insurance) had increased. The company entered the Romanian market in 1995 as a subsidiary of the Greek financial group Interamerican, which used to own the majority stake. The Greek group was taken over in 2001 by Eureko Group BV, one of the leading financial groups in Europe, with the deal being valued at over two billion dollars. ZF