According to Doverie United Holding, the transaction was completed on February 11, following regulatory approvals from the Financial Supervision Commission and the Commission on Protection of Competition.
The deal makes Generali Group the second-largest player on Bulgaria’s health insurance market, strengthening its commitment to customers and its growth in the country, Generali's Bulgarian unit, Generali Insurance, said.
"This acquisition is a key step towards expanding Generali Group’s portfolio in Central and Eastern Europe in businesses beyond motor insurance. All of this will bring a significant advantage on the market for us. I would like to reiterate that the transaction will not have any impact on existing clients, as the terms of their active policies will remain in effect, and our team will be available to assist with any questions that may arise", commented Generali Insurance CEO Nikolay Stanchev.
Generali CEE Holding operates a group of insurance companies, mainly in property and casualty insurance, life insurance and pension and asset management services across Central and Eastern Europe, its website shows. The company has subsidiaries in Bulgaria, Croatia, Czechia, Hungary, Montenegro, Poland, Romania, Serbia, Slovakia and Slovenia, the source added.
*EUR 1 = BGN 1.95583
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