Euroins Romania, part of the Euroins Insurance Group (EIG), is acquiring some of the insurance policies owned by Romanian ATE Insurance, according to a press release on the Eurohold website.
ATE is owned by Piraeus Bank. Euroins Romania will acquire its non-life insurance policies.
"Acquisitions are part of the strategy of EIG. Our insurance group acquired several businesses in the region in recent years and will continue to explore opportunities in this respect, as in the markets that are already present, and new," said Mihnea Tobesku, CEO of Euroins Romania.
Euroins Romania experienced 22 percent growth in premium income last year compared to 2015. In the first quarter this year, the company has already increased premium income by 47 percent compared to one year ago.