Generali's Prague-based unit Generali CEE Holding BV will purchase a 100% stake in Adriatic Slovenica Zavarovalna druzba dd after entering into an agreement with KD Group financna družba dd.
Adriatic Slovenica has more than 1.7 million insurance contracts and 500,000 customers. It generated gross premiums written of €304 million in 2017, according to a press release announcing the deal.
The pending acquisition includes mutual fund manager KD Skladi doo, which has over €750 million of AUM.
Generali is also set to purchase all of Polish life insurance company Concordia Capital SA and non-life insurance company Concordia Polska TUW from German shareholders Concordia Versicherung and Vereinigte Hagelversicherung.
The transactions are subject to the approvals of regulatory bodies and competition authorities.
