Adriatic Slovenica’s acquisition by the GENERALI Group has been completed, the Italian group announced on 13 February. By this acquisition the Italian group increases its contribution to the market GWP about four times, to aprox. 18%.
The transaction also includes the acquisition of KD Funds, Management company LLC. In both cases the vendor is the Slovenian unit of the financial group KD.
GENERALI has received all required approvals from regulatory bodies and competition authorities, including but not limited to the approvals of the European Commission, Slovenian regulatory bodies and IVASS (the Italian insurance supervision agency).
Agreement with the sole shareholder of Adriatic Slovenia, KD Group was signed in May 2018. The closing will be followed by the process of integration of Adriatic Slovenica and its subsidiaries into the Generali structure in CEE.
Adriatic Slovenica provides a full range of P&C, health, life and pension products. It maintains over 1.7 million insurance contracts, serving 500,000 customers…