HANFA clears capital increase in Velebit osiguranje

HANFA clears capital increase in Velebit osiguranje

The Croatian Financial Services Supervisory Agency (HANFA) cleared the capital increase in Velebit osiguranje and Velebit zivotno osiguranje insurance companies, founded by Slovenian Zavarovalnica Maribor. The two companies need additional capital for further expansion at the Croatian market.

Both companies will increase capital stock by issuing 120,950 common shares with the nominal value of HRK 100 per share. This way their respective capital stock will be increased from HRK 53.9 to HRK 66 million. This is the second phase of capital increase, in which Zavarovalnica will become a majority owner of the insurance companies.