SLOVENIA: GENERALI completes acquisition of Adriatic Slovenica and quadruples the share it holds in the market GWP

14 February 2019 — Daniela GHETU
Adriatic Slovenica's acquisition by the GENERALI Group has been completed, the Italian group announced on 13 February. By this acquisition the Italian group increases its contribution to the market GWP about four times, to aprox. 18%.

The transaction also includes the acquisition of KD Funds, Management company LLC. In both cases the vendor is the Slovenian unit of the financial group KD.

GENERALI has received all required approvals from regulatory bodies and competition authorities, including but not limited to the approvals of the European Commission, Slovenian regulatory bodies and IVASS (the Italian insurance supervision agency).

Agreement with the sole shareholder of Adriatic Slovenia, KD Group was signed in May 2018. The closing will be followed by the process of integration of Adriatic Slovenica and its subsidiaries into the Generali structure in CEE.

Adriatic Slovenica provides a full range of P&C, health, life and pension products. It maintains over 1.7 million insurance contracts, serving 500,000 customers.

Furthermore, the acquisition includes KD Funds, a mutual fund manager with over EUR 750 million of assets under management that ranks 3rd in Slovenia with a market share of 20% and also has a presence in Croatia and Macedonia through its subsidiaries.