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Armeec Insurance AD (Bulgaria)

Main Activities: Direct Property and Casualty Insurance Carriers
Full name: Armeec Insurance AD Profile Updated: September 13, 2022
Buy our report for this company USD 29.95 Most recent financial data: 2021 Available in: English Download a sample report

Bulgarian insurance company Armeec was established in 1996 as a subsidiary of the Ministry of defence. The company offers property and casualty insurance products and diversified financial services products. In 1998, Armeec received its general insurance licence. In 2002, local industrial group Chimimport acquired a 91.92% stake in the Sofia-based firm. Armeec received a licence to do reinsurance business in Bulgaria in 2006.

Headquarters
ul. Stefan Karadzha 2
Sofia; Sofia - city; Postal Code: 1000

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Website: http://www.armeec.bg

Basic Information
Total Employees:
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Outstanding Shares:
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Registered Capital:
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Financial Auditors:
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Incorporation Date:
April 11, 1996
Key Executives
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Executive Director and Member of the Management Board
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Executive Director and Member of the Management Board
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Executive Director and Member of the Management Board
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Executive Director and Member of the Management Board
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Member of the Management Board
Ownership Details
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80.99%
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9.74%
Subsidiaries
Armeec Leasing
100%
IC Armeec AO (Russia)
19.4%
CCB Real Estate Fund REIT
13.11%
Company Performance
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Key Financial Highlights
Annual growth percentages for latest two years in local currency BGN. Absolute financial data is included in the purchased report.
Net insurance premium revenue
20.9%
Operating profit (EBIT)
25.7%
Net Profit (Loss) for the Period
25.7%
Total assets
0.04%
Investments
2.94%
Receivables
1.81%
Total equity
10.21%
Net Premiums Earned Trend
N/A
Net Profit Trend
-80.1%
Return on Equity (ROE)
1.51%
Loss Ratio
-7.64%
Underwriting Expenses Ratio
-7.88%

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