Insolvent Romanian insurer Euroins, under the external management of CITR insolvency experts, has sued the Bulgarian reinsurance company EIG Re in order to recover some RON 800 million (EUR 160 million) transferred by the Romanian subsidiary a couple of weeks before losing its operating license, Romania-Insider.com reported. CITR sued EIG Re, a reinsurance firm in the Eurohold group, both in Romania and Bulgaria, Economica.net reported. The money was transferred to EIG Re under a contract with unusual clauses that block Euroins’ access to the funds in case it loses the operating license.
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