Bulgaria-based holding company Management Financial Group (MFG) said on Friday that it is entering the market of general insurance to expand its portfolio of services, SEE News reported.

MFG Ins was granted the license for non-life insurance services by the Bulgarian financial regulator, on February 9, MFG said in a statement. The portfolio of the new unit will comprise five insurance products across four insurance classes. Currently the new unit is in the process of establishment.

MFG is providing financial and credit products for individuals and small and medium-sized enterprises. The group operates in seven countries, including Bulgaria, Romania, Ukraine, Poland, North Macedonia, Spain and Croatia. Additionally, MFG plans to expand to key international markets such as Germany, the USA, Mexico and India.