Grawe buys eur 7 million office building

Grawe purchased an office building close to Unirii. The transaction is estimated by market sources to some EUR 7 million. The value hasn't been confirmed by any of the parties and it was transferred to Italian Enel. The building ... More


GENERALI ENTERS SERBIAN MARKET

Generali Group has entered Serbia acquiring from Delta Group a majority stake (50% plus one share) in insurance company Delta Osiguranje, the leading private operator and the top-third overall on the Serbian market. The ... More


Ex-Yugoslavia insurance firms association founded

The association of insurance and underwriter companies from the ex-Yugoslavia yesterday held a constitutive session in Belgrade - and named itself the Insurance Association SORS. The association, which will be based in Sarajevo, ... More


Raiffeisen launches brokerage company

Raiffeisen Romania launched Raiffeisen Broker for Insurance-Reinsurance, a brokerage company for insurances. The new company is designated especially to corporate clients, Romanian or foreign natural persons, and, for starters, ... More


Bulgaria life insurance market seen up 50% in '06

The local life insurance market is expected to grow by some 50% in 2006, Mario Kostov, executive director of life insurer Bulstrad Life, said emerging from the company's annual trade conference. Premium income in life insurance ... More


UBB to launch 2 insurance businesses in partnership with Ethniki, AIG

United Bulgarian Bank (UBB), a member of the NBG Group, will team up with Greece's Ethniki Insurance and AIG for the launch of 2 insurance companies. The 3 partners will sign a co-operation agreement for the creation of a ... More


Bulgarian pension funds invest 8% of assets in equities

A growing number of Bulgarian pension companies are shifting their investment focus to equities, shows end-year data of the Financial Supervision Commission. While only three pension companies were active buyers on the local ... More


Fondiaria SAI interested in acquiring Asirom

Italian insurer Fondiaria SAI is interested in buying the largest Romanian general insurance company, Asirom, according to the ‘Il Sole 24 Ore’ Italian daily and also according to sources familiar with the insurance ... More


French Firm tops bidding for Turkish Insurer BASAK SIGORTA

The French insurance company Groupama has put forward the highest bid in the tender to sell off major stakes in Turkish insurer Basak Sigorta AS and private pension company Basak Emeklilik AS. Groupama already has a stake in the ... More


Allianz Bulgaria Holding '05 profit up 45%

Allianz Bulgaria Holding posted a profit of 50 mln levs last year, matching its 2004 performance, executive director Dimiter Zhelev said on Wednesday, February 1. The company said its assets grew by over 45% last year, to ... More


Euroins offering makes a splash on Bulgarian bourse

The secondary offering of Bulgarian insurance company Euroins enjoyed a buoyant start on the local stock exchange Monday with a total of 28,901 shares changing hands. Trading started at 2.30 levs but later the stock rallied ... More


Bulgarian insurer Euroins to slate 20% of profit for dividend payments

Starcom Holding, the majority owner of insurance company Euroins, has promised to pay out a dividend to the amount of 20% of the insurer's profit, chairman of Euroins managing board Kiril Boshov said on Thursday, a couple of days ... More


Wiener Städtische interested in privatization of DDOR Novi Sad

Serbian Minister of Finance Mladjan Dinkic said that the largest Austrian insurance company Wiener Städtische is interested in the privatization of the Novi Sad insurance company DDOR. Dinkic, who is attending the 11th ... More


Austria’s Wiener Stadtische eyes insurer DDOR Novi Sad

Austria’s leading insurance group Wiener Stadtische is interested in acquiring insurer DDOR Novi Sad, Beta quoted Finance Minister Mladjan Dinkic as saying in Vienna. The government plans to call a tender for the sale of ... More


Allianz-Tiriac carried auction for insurance of Tarom fleet

Allianz-Tiriac Asigurari has won the auction for the insurance of the aircraft fleet of Tarom company, according to a press release of the air flight operator. Omniasig, Astra and BCR Asigurari had also submitted bids to the ... More


Insurer DDOR Novi Sad increases market share to 40% in 2005

Insurance company DDOR Novi Sad increased its market share from 35% in 2004 to 40% last year and its 2005 revenues rose 26% year-on-year, marketing manager Nikola Juric has told Beta. The insurer, 50.06% owned by the state, will ... More


Aon takes over KaRo Insurance Services

Aon has acquired KaRo Insurance Services, its exclusive representative agency in Romania, reads a news release issued by the world's second largest insurance group. According to the American company, the new structure will be ... More


World's second-largest insurance broker AON acquires KaRo

The world's second-largest insurance broker AON fully acquired in late 2005 Romanian insurance broker KaRo Insurance Services. KaRo ranks second in Romania after Marsh Romania firm. Last year it brokered contracts worth 12.5 ... More


Merged insurer Adriatic Slovenica enters court's register

By entering the court's register insurer Adriatic Slovenica concluded the merger process which started on 24 May, when the supervisory boards of both Adriatic and Slovenica backed the annexation of Slovenica to Adriatic. The ... More


Regulator to check marketing of motor insurance

Bulgaria's insurance supervisor said it will inspect the sale policies of companies marketing the mandatory motor third party cover to make sure they are not engaging in the unlawful practice of offering purchase inducements. The ... More