SOFIA (Bulgaria), May 29 (SeeNews) – Sofia-based Life Insurance Institute has filed for regulatory approval to absorb local peer Health Insurance Institute,Bulgaria's competition authority announced on Monday.
The deal is expected to affect the local health insurance market, the Commission for Protection of Competition said in a statement.
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Health Insurance Institute offers accident and illness insurance. It has a registered capital of 5 million levs ($3.1 million/2.8 million euro), according to the country’s commercial register. Bulgarian insurance company Lev Ins is the company’s biggest shareholder.
Life Insurance Institute also offers accident and illness insurance. The company has a registered capital of 7.7 million levs, according to the commercial register.
(1 euro = 1.95583 levs)