After acquiring the Bulgarian Express Life Insurance last year, Groupama Group has recently announced the acquisition of Croatian OTP Osiguranje. Upon completion of the agreement, the Group will extend its geographical footprint to an 11th country.
Groupama Group announced that Groupama Biztosito, Hungarian subsidiary of Groupama Group, and OTP Banka d.d., Croatian subsidiary of OTP Bank Plc, signed an agreement on the sale and purchase of 100% of the shares of the insurance company OTP Osiguranje. This transaction demonstrates the close links between Groupama and OTP Bank in the Central and Eastern European countries. Upon completion of the agreement which will be finalized in the first quarter of 2021, Groupama Group will extend its geographical footprint to an 11th country, Croatia
In 2020, Groupama Group had acquired Express Life Insurance Hayat through its subsidiary company Groupama Zhivotozastrahovane, changing the name into Groupama Life Express and doubling its market share in the country.
Through these acquisitions Groupama has reinforced its position in the Central and Eastern European markets which bear significant growth potential.
As the largest mutual insurance company of France, Groupama operates in many countries in Central and Eastern Europe. In addition to Italy, the Group has leading insurance companies in Romania, Hungary, Slovakia, Greece and Turkey. In addition to its activities in Europe, Groupama also operates in China and Tunisia. Groupama offers products and services in life and non-life insurance as well as financial services to over 12 million customers with more than 31.500 employees worldwide.
|
