Business News

Triglav Moves to Acquire Albanian Insurer

Ljubljana, 15 December (STA) - Zavarovalnica Triglav, Slovenia's biggest insurer, signed a letter of intent with Albanian insurance company Albsig Tuesday which stipulates a gradual tie-up, Triglav said in a statement.

Albiag has a network of 14 offices in Albania and posted consolidated written premiums of EUR 8m in 2008. It also has a subsidiary in Macedonia.

This would be the first venture in Albania for Triglav, which already has substantial presence in Croatia, Bosnia-Herzegovina, Montenegro, Serbia and Macedonia.

Just last week Triglav got the nod from the Montenegrin privatisation board to increase its stake in insurer Lovcen osiguranje to over 90%.

The Triglav group posted gross premium revenues of EUR 771.2m for the first nine months of this year.

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