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Bosnian insurer seeks regulatory approval for purchase of local peer

Bosnian insurer Bosna sunce osiguranje dd filed a request with the Competition Council of Bosnia and Herzegovina to approve the purchase of a majority stake in Zovko osiguranje, the regulator said Dec. 18.

Bosna sunce osiguranje signed an agreement to acquire Zovko osiguranje in November and acquired 100% of the company for 1,799.36 Bosnian convertible marks apiece, or a total of 9 million marks, news website eKapija said Nov. 15, citing Raiffeisen BANK d.d. Bosna i Hercegovina, which acted as an intermediary in the transaction.

As of Dec. 18, US$1 was equivalent to 1.66 Bosnian convertible marks.