Eurohold insured 65% of Ukrainian grain exports in 2022 via EIG
MOSCOW. May 16 (Interfax) - Euroins Insurance Group (EIG), which is owned by Eurohold Bulgaria AD and is one of the leading independent insurance companies in Eastern Europe, insured almost two-thirds of Ukraine's grain exports in 2022, Ukrainian media said, citing a press release circulated by Euroins Ukraine, part of EIG.
Thus, the insurance group made an important contribution to Ukraine's effort to export part of its grain harvest, providing support to the local economy and business, it said.
EIG, which owns Ukrainian companies Euroins Ukraine and European Travel Insurance, is a key player in maritime cargo insurance in Eastern Europe, and Eurohold, for its part, has forged ties between Ukrainian exporters of food products and European insurers in Bulgaria and Romania, the press release said.
The data offered in the press release show that last year EIG insured approximately 1,800 grain shipments for $5 billion, or 65% of the overall cost of Ukrainian grain exports. According to data from Statista, in 2022 Ukraine exported grain worth $7.624 billion to the following countries: Romania (for $1.27 billion), China ($1.1 billion), Spain ($980 million), Turkey ($870 million), Poland ($650 million), Egypt ($540 million), Italy ($400 million), Hungary ($400 million), the Netherlands ($300 million), and other countries (for $1.6 billion).
In Ukraine, EIG insured chiefly shipments of wheat, soybeans, maize, and crude sunflower oil.
Ukrainian cargoes covered by EIG were shipped from three Ukrainian ports - Chernomorsk, Odessa and Yuzhny - and from Romania's Danube port with destinations mainly in Europe and North Africa.
Eurohold Bulgaria AD is a leading energy and financial group operating in Central, Eastern and Southeastern Europe. It is listed on the Bulgarian and Warsaw Stock Exchanges. Eurohold owns Euroins Insurance Group AD, which is one of the largest insurance companies in the region.
EIG offers a full range of insurance products, serves more than four million clients and has over 3,000 employees.