Financial and industrial group, Eurohold Bulgaria has established a new subsidiary in Macedonia, called Eurolease Auto Skopje. The expansion is part of the company’s strategy for achieving maximum synergy between leasing and insurance operations in all the countries that its insurance sub-holding Euroins Insurance Group (EIG) is already present. Eurohold Bulgaria also acquired 83.25 per cent of Macedonian insurer Macosped Osiguranie for €7.3m earlier this year.
Slovenian-owned NLB Leasing, Austrian-owned Hypo Alpe-Adria-leasing and Macedonia’s Euroleasing will be Eurolease Auto’s main competitors in Macedonia. But there is strong potential for Eurolease Auto, as the country’s car sales have increased by double digits, reaching 15,000 vehicles in the past year.
Eurohold Bulgaria has €50,000 in capital equity and over 1000 shares with a nominal value of €50 each. It also aims to consolidate a net profit of €34.7m in 2010 and is looking to expand its insurance business in Albania, Serbia, Moldova, Ukraine, Turkey and Russia, where there is strong potential for growth since.
