GENERALI CEE is negotiating the acquisition of ADRIATIC Slovenica

On 11 May 2018, GENERALI CEE Holding and KD Group entered into an agreement on exclusivity in connection with negotiations for acquisition of 100% ownership interest in ADRIATIC Slovenica, the Italian insurance group has announced.

ADRIATIC Slovenica, ranking third among the Slovene insurers, provides full suite of P&C, health, life and pension products with over 1.7 million insurance contracts and 500,000 customers. In 2017 it generated GWP of EUR 304 million holding a market share of nearly 15%. In 2017, the company's net profit amounted to about EUR 11.4 million, 4.2% less y-o-y. ADRIATIC Slovenica has an extensive and diversified distribution network, with a total of 373 points-of-sale in Slovenia.

Although the Italian group has not provided additional details, the Slovene financial press mentioned an estimated value of the deal of about EUR 150 million.

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