Koper, 26 May (STA) - Insurance company Adriatic Slovenica expects faster and better development with the new owner, chairman of the board Gabrijel Škof told the newspaper Primorske Novice on Saturday, just days after it was sold to international group Generali, pending regulatory approval.
Adriatic Slovenica, a Koper-based company owned by Slovenian financial group KD Group, will become part of a large, respectable and strong insurance group, he said.
"Although we are known to be very innovative and dynamic as it is, we'll now be able to set even higher goals to get better positioned in the Slovenian financial and insurance market."
Škof is unaware of Generali's plans for Adriatic Slovenica, but given Generali's presence in the region, he believes Adriatic Slovenica and its future sister company Generali Slovenia could become a kind of a centre for the Balkans.
"Adriatic Slovenica is present in Croatia, while it pulled out of Serbia during the crisis," he explained.
Its 14% market share makes Adriatic Slovenica the third largest insurance company in Slovenia.
If the merger with Generali is carried through, which Škof does not doubt, its share would rise to 19%, making it the second largest insurer after market leader Triglav.
KD Group sold its 100% stake in Adriatic Slovenica to Generali CEE, a subsidiary of Italy's Generali Group, for EUR 245 million on Wednesday.
The sale is pending regulatory approval and the green light from KD Group shareholders, and is expected to be completed in the second half of 2018.