Thirteen Companies Apply for the Purchase of Serbian Insurer DDOR Novi Sad

13. Juli 2006, 00:00

According to the Beta news agency, 13 renowned international insurance companies have applied for the purchase of at...

According to the Beta news agency, 13 renowned international insurance companies have applied for the purchase of at least 80.12 per cent of capital in Serbian insurance firm DDOR Novi Sad.

Officials of the Serbian Deposit Insurance Agency announced that these companies are: Italian Fondiaria SAI and Generali, French Axa and Groupama, German Allianz and VHV Group, Belgian KBC Group, Swiss La Baloise, Czech Pojistovna, Greek Ethniki, Dutch Eureko, Slovene Zavarovalnica Triglav and Austrian Wienner Staedtische.

The Serbian Deposit Insurance Agency and its advisor BNP Paribas are now checking whether the candidates meet the tender criteria.

The tender was open to companies that have dealt with insurance for at least five years and whose premium insurance income last year stood at EUR 500 million at least. It was also open to banks with assets of at least EUR 5 billion.

At the end of last year, DDOR Novi Sads overall assets stood at EUR 118.2 million (CSD 10 billion), while its gross premium income amounted to EUR 94.56 million (CSD 8 billion).

This company has 22 branch offices and accounts for 31 per cent of the Serbian insurance market.

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