Generali completed acquisition of Adriatic Slovenica and KD Funds in Slovenia
13 February 2019 - 11:25
Milan - Generali completed the closing of the transaction with KD Group, finančna družba, d.d., to acquire the entire corporate capital of Adriatic Slovenica, zavarovalna družba, d.d., and KD Funds, Management company LLC, in Slovenia. Generali has received all required approvals from regulatory bodies and competition authorities, including but not limited to the approvals of the European Commission, Slovenian regulatory bodies and IVASS (the Italian insurance supervision agency).
Agreement with the sole shareholder of Adriatic Slovenia, KD Group, finančna družba, d.d., was signed in May 2018. The closing will be followed by the process of integration of Adriatic Slovenica insurance company and its subsidiaries into the Generali structure in CEE.
Adriatic Slovenica provides a full range of P&C, health, life and pension products. It maintains over 1.7 million insurance contracts, serving 500,000 customers.
Furthermore, the acquisition includes KD Funds, a mutual fund manager with over €750m of assets under management that ranks 3rd in Slovenia with a market share of 20% and also has a presence in Croatia and Macedonia through its subsidiaries.