Regulator rejects Euroins Insurance's plan to buy stake in HDI Insurance

Posted On: Jun. 23, 2016 12:00 AM CST

Ukraine's financial service regulator Natskomfinuslug has rejected Bulgaria-based Euroins Insurance Group L.L.C.'s plans to acquire a significant holding in Ukraine's HDI Insurance (Kyiv), reported Interfax Ukraine.

Euroins Insurance was looking to purchase 89% of HDI Insurance's shares. The regulator rejected the purchase after it learned that Euroins had filed false information and non-compliant documents. HDI Insurance is a subsidiary of German insurer Talanx A.G.