Adriatic Slovenica's takeover by Generali greenlighted by the EC

The European Commission has greenlighted the takeover of insurer Adriatic Slovenia by Generali CEE, an affiliate of Italy's Generali Group, the world's third largest insurer, STA reports. According to the Commission, the deal does not affect the competition on the relevant markets.

On 23 May 2018, KD Group concluded a contract with Generali CEE Holding, BV on the sale of a 100% stake in its Slovenian insurance subsidiary Adriatic Slovenica for a total consideration of of EUR 245 million.

Adriatic Slovenica is Slovenia's third biggest insurer, with GWP worth EUR 306.86 million in 2017and a 14% market share. The company holds an almost 16% share of the non-life insurance market and 10% of the life insurance market.

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