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.