Eurohold Bulgaria plans to spend between 60 and 100 mln euros on acquisitions of insurance companies in the region within the next two years, the holding announced during its meeting with investors today.

Some 60-70% of the funds will be sought outside the company.

Eurohold Bulgaria recently acquired control over the seventh biggest insurer in Macedonia and is currently negotiating other acquisitions.

The holding is considering its options for expansion to Serbia, Turkey, Albania and Moldova.

Its subsidiary holding Euroins Insurance Group (which consolidates the insurance units) is planning on entering the markets of Russia and Ukraine.

Euroins stepped on the Spanish market this March, while the Romanian unit is expected to start operation in Hungary in H1.

Euroins' market share is expected to grow from the current 5.5% to 6.5% by 2010.

Euroins Romania currently hold 1.7% of the market and its share is projected to expand to 2.5% by year end.