You're reading: Competition agency permits Bulgaria’s Euroins Insurance Group to buy over 50 percent in HDI Insurance

The Antimonopoly Committee of Ukraine has permitted Bulgaria's Euroins Insurance Group to build up over 50 percent stake in private joint-stock company HDI Insurance (Kyiv), the committee's press service has reported.

The company told Interfax-Ukraine that at present, Euroins Insurance Group AD holds 9.9999% stake in the company.

In March 2015, Talanx International AG, the key shareholder in HDI Insurance (Kyiv), cut its stake by 10 percent, to 89.2896 percent.

The insurer also said that Euroins Insurance Group with a 10 percent stake became the new shareholder in the company.

In late February, HDI Insurance said that Talanx International AG and Euroins Insurance Group signed an agreement to sell the Ukrainian subsidiary.

The similar agreement was signed to sell a subsidiary of Talanx International AG in Bulgaria.

Euroins share of the Bulgarian, Romanian and Macedonian market is around 7 percent. It is subsidiary of Eurohold Bulgaria.

Private joint-stock company HDI Insurance has been operating on the Ukrainian market since 1992. From July 2008, the key shareholder in the company was HDI-Gerling International Holding AG, part of Talanx Group.