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Report: Bulgarian regulator allows Lev Ins to boost stake in local insurer

Bulgaria's Financial Supervision Commission allowed Lev Ins AD Insurance Company to increase its holding in Life Insurance Institute to 63.68% from 49.08%, SEENews reported Feb. 21.

Lev Ins will increase its holding in Life Insurance Institute as a result of a merger of the latter company with Health Insurance Institute, in which Lev Ins had an 86% stake as of July 2017, when the merger was approved by the Bulgarian Commission for Protection of Competition.

Health Insurance Institute offers accident and illness insurance products, while Life Insurance Institute provides accident and illness insurance, as well as life insurance, the news report noted.