New law regulations for insurance companies and insurance monitoring

Romania's Government passed through emergency ordinance amendments to Law No.32/2000 on the insurance companies and their monitoring according to a release issued by the Insurance Monitoring Commission (CSA). According to the ... More

U.S. investment fund buys stake in Bulgarian insurer DZI

Closed fund Julius Baer International Equity has acquired between 5 and 10% in Bulgarian insurance company DZI, shows data of the Central Depository. The exact size of the transacted equity was not immediately cited. The ... More

Privatisation of insurance in Serbia

Central Bank governor Radovan Jelasic said that the state would privatise insurance company DDOR “Novi Sad” and leave Dunav Company, another giant on the Serbian insurance market, in state ownership. The next ... More

Central Co-operative Bank, Transcard to launch special purpose vehicles

Trans Investment and Capital Management are the latest Special Purpose Vehicles (SPVs) awaiting a nod from Bulgaria's Financial Supervision Commission. Trans Investment, co-owned by Petrol Holding (70%) and Greece's Emporiki ... More

Generali Vienna expands to Bulgaria, Serbia, Ukraine

Austrian insurer Generali Vienna, a subsidiary of Italian Generali, plans to expand to Bulgaria, Serbia and Ukraine. The expansion into central and eastern Europe (CEE) is planned through acquisitions and the consolidation of ... More

KD Group to open an insurance company in Romania in '06

Slovenian KD Group will enter the Romanian insurances market in January 2006, by opening a company selling exclusively life insurances. “In a first stage, the company will have a share capital of EUR 3.5 mn. Afterwards, ... More

Bulgarian insurer stripped of license for frauds

Bulgaria's Financial Supervision Commission has stripped of license insurance company Jupiter, the first shutdown of this kind since the end-90s. The procedure was launched on September 16 this year. The company was given the ... More

KD Group to open insurance firm

KD Group has announced plans to enter the Romanian insurance market in the first quarter of next year, with the opening of a company specializing in life insurance products, said Matjaz Gantar, president of the Slovenian ... More

5 new companies in the Insurance market

5 new companies are licensed to operate in the Insurance market in addition to 5 insurance companies that already operates in this sector. In Albania' s Insurance Market now operates 10 companies in ... More