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Croatia's Sava Osiguranje completes takeover of two local insurers

Croatia's Sava Osiguranje completes takeover of two local insurers Source: Mozaik Zavarovanj Doo - Zavarovalnica Sava Radovljica

ZAGREB (Croatia), December 5 (SeeNews) - Sava Osiguranje, d.d., the Croatian branch of Slovenian reinsurer Sava Re [LJE:POSR], has completed the process of acquiring local insurers ERGO Osiguranje d.d. and ERGO Zivotno Osiguranje d.d., it said on Thursday.

This deal is in line with Sava Osiguranje's strategy for further growth on the Croatian market, David Kastelic, chairman of the board of Sava Osiguranje, said in a company statement.

In April Sava Re announced it had reached an agreement to buy the two insurers. The price tag remained undisclosed.

Sava Osiguranje has over 50 sale points across Croatia. It employs 357 people and has more than 218,000 clients. 

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