Serbia's OMR Group has completed the acquisition of an unnamed Swiss-based reinsurer and has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to provide financial services in the country, OMR Group owner and president Ostoja Mijailovic said, SeeNews writes.

Founded in 2021 in Belgrade, OMR Group has four divisions - automotive, finance and insurance, leasing and rent, and real estate. The finance and insurance division comprises non-life insurer Globos Osiguranje, digital payments provider Led Pay, and vehicle registration and technical inspection services provider CVS, according to the Group.

"This is an important strategic step for the further European expansion of OMR Group and the development of our financial and insurance business on the international market. I am particularly proud of the fact that OMR Group is among the few companies from Southeast Europe that have received this type of regulatory approval in Switzerland", Ostoja Mijailovic commented.