The European Bank for Reconstruction & Development said March 31 that it has exited its engagement in Slovenian pension fund Prva Group after selling its 20% stake in the company to majority shareholder DEJ d.o.o.
EBRD became a shareholder in Prva Group in 2007 to support its market expansion and improve corporate governance, a mission which the bank said is now complete.
Prva Group is one of the leading asset management providers in Central and Eastern Europe. It has more than €735 million pension assets under management, roughly 400,000 policy holders and €76 million in total collected premiums annually. It closed the 2016 financial year with a profit of €3.29 million, representing a 16% increase in premiums of term life insurance and a 48% increase in premiums of unit-linked insurance, the company noted.