Eurohold Bulgaria AD

Earnings Release • Feb 16, 2017

Realized sales in January 2017 by the companies in the group of Eurohold

EUROINS INSURANCE GROUP (EIG)

The insurance holding EUROINS INSURANCE GROUP registered a 46.9% growth in premiums (GWP) for January amounted to EUR 26.1 mm compared to EUR 17.8 mm for the same month of 2016. (Table 1.).

Table 1.
EIG	January
	(EUR'000)		Change (%)
	01'2017	01'2016
Euroins Bulgaria	4 629	3 871	19.6%
Motor Hull	1 005	774	29.8%
Motor TPL	2 587	2 087	24.0%
Property	300	207	44.8%
Active reinsurance	-	-	-
Other	737	803	-8.2%
Euroins Romania	19 903	13 167	51.2%
Motor Hull	68	103	-33.9%
Motor TPL	18 904	12 487	51.4%
Property	239	160	49.2%
Other	692	416	66.1%
Euroins Macedonia	686	690	-0.6%
Motor Hull	62	59	5.2%
Motor TPL	429	365	17.7%
Property	33	89	-63.2%
Other	162	178	-8.9%
Euroins Ukraine	828	-	-
Motor Hull	70	-	-
Motor TPL	53	-	-
Property	388	-	-
Other	316	-	-
Euroins Life	80	52	55.4%
EIG TOTAL GWP	26 126	17 779	46.9%

Source: EIG

Euroins Bulgaria reported a 19.6% growth in premiums in the first month of 2017 compared to January 2016. In motor insurances outpacing growth registered Casco insurances by nearly 30% compared to 24% growth in MTPL insurances, which is the result of the purposeful management policy for diversification and quality improvement of the company's insurance portfolio.

Euroins Romania registered above 51.2% growth in premiums for January'2017, which is mainly due to MTPL insurances. The company makes detailed market segmentation, which significantly reduces the levels of risk taken.

Euroins Macedonia retained the GWP at the same level as in January 2016 as there was an increase in motor insurances versus the non-motor insurances which decreased.

For January 2017, the GWP of Euroins Ukraine amounted to EUR 0.83 million, mainly accumulated from Property insurance.

(Euroins (HDI) Ukraine is a part of the group of Euroins Insurance Group (EIG), after Germanybased Talanx Group transferred the 99% of shares of the Ukrainian company to EIG on 12th of August. Effectively from 30th of September, 2016, the name of the company was changed to Euroins Ukraine.)

AVTO UNION

The automotive holding AVTO UNION registered 187.7% growth with total of 446 sales of new PC and LCV for January, 2017 compared to 155 units realized in January, 2016. The highest number of sales for the month was realized by Espace Auto (Renault, Dacia) with 327 units, followed by Auto Italia (Alfa Romeo, Fiat, Lancia, Maserati) with 39 units, Star Motors (Mazda) with 38 units, Bulvaria (Opel, Chevrolet) – 28 units and N Auto Sofia (Nissan) with 14 units (Table 2.)

Table 2.
Avto Union	January
Company	Units	Units	Change (%)
	01'17	01'16
AUTO ITALIA ALFA ROMEО,FIAT, LANCIA, MASERATI	39	22	77.3%
N Auto SOFIA	14	26	-46.2%
NISSAN
ESPACE AUTO	327	65	403.1%
RENAULT, DACIA
BULVARIA	28	13	115.4%
OPEL, CHEVROLET
STAR MOTORS	38	29	31.0%
MAZDA
TOTAL	446	155	187.7%
			Source: Avto Union

The significant sales growth in January'2017 was due to the large deals with corporate customers.