SLOVENIA: Zavarovalnica TRIGLAV plans to strengthen its presence in the pension insurance market

30 October 2014 — Vlad BOLDIJAR
Slovenian-based Zavarovalnica TRIGLAV announced its intention to make a takeover bid for all the shares of the local pension insurer Skupna Pokojninska Druzba in an strategy to strengthen its position on this segment of the insurance market.

"The recent strategy pays special attention also to the pension insurance products development. In view of the demographic trends, we expect that people's needs to ensure their pension safety will increase. This means that consequently pension insurance will become more important both in Slovenia and abroad", said Andrej SLAPAR, President of the Management Board of Zavarovalnica TRIGLAV.

As this announcement came, Zavarovalnica TRIGLAV held 9,752 shares of the Skupna Pokojninska Druzba, "which represented 30.14% of the voting rights in the latter", Slovenia's biggest insurer detailed in a press release.

On 29 October 2014, Zavarovalnica TRIGLAV and GORENJSKA Banka signed an agreement according to which GORENJSKA Banka shall accept the public offer of Zavarovalnica TRIGLAV for the takeover of all the shares of the Skupna Pokojninska Druzba under set terms and conditions. "GORENJSKA Banka holds 8,421 shares of the Skupna Pokojninska Druzba, which represent 26.03% of the voting rights in the latter", Zavarovalnica TRIGLAV informed .

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