Generali’s CEE holding company GPH has reached an agreement for the acquisition from Serbian Delta Group of the minority interests held by the partner in Delta Generali Osiguranje a.d.o. Belgrade, the company said in a release on Friday.
With a premium income totaling € 130.5 million and a market share of 20% in 2013 Delta
Generali Osiguranje is the second-largest insurance provider in Serbia.
After completion of the acquisition Generali will have full control also of Delta Generali Reosiguranje a.d.o., Delta Generali Voluntary Pension Fund and Blutek Auto d.o.o. The minority buyout of shares has already been approved by the National Bank of Serbia.
- The acquisition of the minority interest in Serbia is consistent with Generali’s aim to have full control of our important business units also in Central and Eastern Europe. This investment is testament to the importance of Serbia as substantial part of our business in CEE region, an area with sustainable growth prospects - said GPH CEO Luciano Cirina.
- Generali’s activities in Serbia will face a rebranding procedure according to Generali’s new corporate identity - the release reads.