Slovak Kooperativa VIG acquired over one third in one of the largest local broker

25 March 2024 — Andrei VICTOR
The largest insurance company in Slovakia - Pojistovna Kooperativa, part of Austrian Vienna Insurance Group acquired 35% stake in insurance broker Universal Maklersky Dom from the Dutch UMD Group B.V., informed here.

Universal is the tenth largest broker in Slovakia in terms of turnover and the sixth largest in terms of number of brokers.

This transaction is subject to approval by the Slovak Antimonopoly Office.

"As insurer with the ambition to be a leader in digitization on the Slovak insurance market, this step confirms our long-term strategy. We are pleased that in conjunction with a leading company on the market which brings innovative tools to support the business and which has a strong network of brokers, we will be able to make a significant progress with the sale of our insurance solutions," said Vladimír Bakes, BoD Chairman & CEO, Kooperativa VIG.

"The entry of Kooperativa VIG, as a minority strategic partner, is the result of more than 20 years of successful cooperation on the Slovak financial market. With the connection with an insurer, we strengthen our position remaining an independent brokerage company", said Marcel Zelenak, CEO and Chairman of the Board, Universal Maklersky Dom.