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VIG's Bulgarian unit completes acquisition of bancassurer UBB-AIG

Posted On: Jan. 6, 2016 12:00 AM CST

Austria-based Vienna Insurance Group A.G. said that its Bulgarian subsidiary Bulstrad Vienna Insurance Group A.D.-Sofia has completed the acquisition of Bulgaria-based bancassurer UBB-AIG Insurance Co. A.D., reported.

"By acquiring UBB-AIG, Bulstrad took advantage of the opportunity to strengthen its presence in the Bulgarian market and open up further customer segments," said a VIG official.

VIG said that it has signed a cooperation agreement with United Bulgarian Bank A.D., simultaneously with the acquisition.

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