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Vienna Insurance Group to merge Croatian units

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Vienna Insurance Group to merge Croatian units

Croatian bancassurer Erste Sparkassen osiguranje d.d. za životno osiguranje will merge into sister unit Wiener osiguranje Vienna Insurance Group d.d. by the end of April 2018 as part of parent Vienna Insurance Group AG's plans to boost its bancassurance business, with a focus on nonlife and health insurance.

The move follows similar steps in Hungary, Slovakia and Austria.

The merger is subject to approval by Croatian authorities, according to a Dec. 11 statement.