UKRAINE: The financial regulator approved the acquisition HDI Strakhuvannya by EIG

The Ukrainian Commission for State Regulation of the Financial Markets has approved the acquisition of HDI Strakhuvannya by Bulgaria's EUROINS Insurance Group (EIG), a subsidiary of financial holding EUROHOLD. The deal in Ukraine comes after EIG has already acquired HDI Zastrahovane - the Bulgarian business of the Hannover based insurer TALANX International.

"After the acquisition of HDI Strakhuvannya, EIG will be represented in five insurance markets with more than 100 million population. Furthermore we will strengthen our position as one of the leading insurance groups in the region", said Kiril BOSHOV, CEO of EUROINS Insurance Group.

HDI Strakhuvannya is already under the control of EIG, after the election of the new Chairman of the Management Board (MB) PhD Alexander VOLKOV, proposed by the Bulgarian buyer. He has more than 12 years of experience in Ukrainian insurance market and prior to joining HDI he held a senior position in the Ukrainian subsidiary of UNIQA.

Deputy Chairman of the Board will be Yanko NIKOLOV, proposed by EIG. By the end of 2015 he was CEO of EUROINS Macedonia.

As of the end of 2015, the GWP of the Ukrainian HDI Strakhuvannya was EUR 13.4 million, net income in the amount of EUR 327.000, while the number of employees in the company was 158 people.

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