Workflow
Financial security in tourism
icon
Search documents
Novaturas secured EUR 9M in surety insurance from the international Insurance company Euroins AD
Globenewswireยท 2025-06-02 15:40
Core Points - Novaturas Group signed a suretyship agreement with Euroins AD for a EUR 9 million insurance limit to ensure fulfillment of obligations to travelers [1][2] - The partnership with Euroins is aimed at strengthening Novaturas' market position and enhancing credibility with clients and partners [2] - Novaturas has extended its credit line with Luminor Bank, with a EUR 3 million loan repayment extended until the end of the year [7][8] Company Overview - Novaturas Group is a leading tour operator in the Baltic States, offering a wide range of travel destinations and services for 25 years [9] - In 2024, Novaturas recorded revenues of EUR 201 million and served 239,000 passengers across Lithuania, Latvia, and Estonia [9] Insurance and Regulatory Context - Tourism regulations mandate that tour operators must ensure obligations through insurance or bank guarantees to protect travelers [3] - Euroins AD is a prominent insurance provider in Bulgaria and operates in multiple European countries, specializing in travel insurance [5][6]