Euroins Insurance Group Seeks Anti-trust Nod to Take Over Interamerican Bulgaria Life Insurance
Thursday, 12 December 2013
Euroins Insurance Group (EIG) is seeking clearance for a full take-over of Interamerican Bulgaria Life Insurance, the Bulgarian competition watchdog said on Wednesday.
The proposed transaction is expected to have an impact on the local market for life insurance services, the Commission for the Protection of Competition said in a statement.
The regulator is set to come up with a decision within seven days.
According to a statement on Interamerican Bulgaria's website, its insurance portfolio has been transferred to EIG-controlled Euroins as of October 2.
Earlier this month, Euroins took over the operations of Australian insurance company QBE in Bulgaria and Romania.