Insurer Zavarovalnica Triglav began Tuesday procedures to rescind the contracts with the International Finance Corporation (IFC) over its failure to recapitalise Triglav's subsidiary Triglav INT within the agreed period, the insurer said in a statement published on the website of the Ljubljana Stock Exchange.

Since the IFC, a part of the World Bank, failed to recapitalise Triglav INT in line with the agreement, Zavarovalnica Triglav sent IFC today a draft termination agreement in order to cancel all contracts with the IFC, the insurer said.

Read the full story on balkans.com.
SLOVENIA: Zavarovalnica TRIGLAV cancels contracts with IFC