Generali has completed the acquisition in Slovenia of 100% of Adriatic Slovenica and of KD Funds, Management company LLC, from KD Group. The transaction was concluded after the go-ahead from regulatory bodies and competition authorities, including those of the European Commission, Slovenian regulatory bodies and IVASS (the Italian insurance supervisory institute).
The agreement with the sole shareholder of Adriatic Slovenia, KD Group, was signed in May 2018. The transaction will be followed by the process of integration of the Adriatic Slovenian insurance company and its agencies into Generali's structure in the CEE region.
Adriatic Slovenica supplies non-life, health, life and pension products, with over 1,7 million insurance contracts and 500 customers.
The acquisition includes KD Funds, a mutual fund with over 750 million assets under management, ranked third in Slovenia with a 20% market share, also present in Croatia and Macedonia.
