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Generali to acquire Croatia-based privately owned insurance company

Generali will acquire Izvor osiguranje dd's business through a part-of-enterprise transaction for undisclosed financial terms.

The target is a privately owned non-life insurance provider in Croatia, offering motor, property, travel, liability and accident insurance, and other types of insurance services. The transfer of the insurance portfolio will not impact the obligations toward existing clients of Izvor osiguranje.

The transaction is part of Generali's effort to further consolidate its position in the Croatian market. It will be finalized after receiving the approval of the relevant supervisory and competition authorities.