CROATIA osiguranje to absorb its health insurance unit

HANFA - the Croatian Financial Services Supervisory Agency informed on its website it has approved the merger through absorption between CROATIA osiguranje and its private health insurance unit - CROATIA zdravstveno osiguranje.

According to the announcement, "CROATIA osiguranje d.d., Zagreb has received the approval for the merger with CROATIA zdravstveno osiguranje d.d., Zagreb, in accordance with the Merger Agreement dated 7 April 2017. The term of this resolution will be published on HANFA's website".

Founded in 1884, CROATIA Osiguraje is the largest and oldest insurer in Croatia - with the government as majority stackeholder until 2014. Currently, CROATIA osiguranje is owned by the Rovinj based consortium ADRIS Grupa - with businesses in tourism, real estate, tobacco and food industry. At the international level, CROATIA Osiguranje operates in Slovenia, Serbia and Macedonia.

At the end of March 2017, according to the Croatian Insurance Bureau figures, CROATIA Osiguranje was the largest insurer in the country with 31,5% market share (GWP of about EUR 110 million) of total Croatian insurance market (EUR 348 million).

At the same time, CROATIA zdravstveno osiguranje ranked 10th with GWP of about EUR 12 million (3.5% market share).

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