SERBIA: Car dealer British Motors increased its stake in the smallest non-life insurer in the country

21 April 2020 — Andrei Victor
Belgrade-based British Motors, a Serbian car dealer, has increased its stake in the capital of local non-life insurer Globos osiguranje by 15.6% from 71.8% to 87.4% as a part of a buyout bid, wrote here.

The 15.6% stake in the Globos Osiguranje 's capital represens 214,139 shares. The offer was conducte at a price of RSD 402 per share - the book value as of December, 31 2018.

According to the most recent official market results, at September 30 2019 Globos osiguranje reported GWP of RSD 201 million (EUR 1.7 million) - representing about 0.25% market share. From this point of view, of total 16th active insurers in the country, Globos osiguranje is the smallest one.

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