Uniqa Group Austria has announced that it has increased its participation in Bulgaria's sixth largest insurance company, Vitosha, by acquiring an additional 31% of the share capital of the company, bringing its total participation stake to 51%.

<p>To reflect the integration of the companies, a rebranding that will see Vitosha and Vitosha Life operating under the Uniqa brand will be undertaken. <br /><br />The timing for this step was perfect, said Uniqa&#0039;s managing director, Dr Konstantin Klien. Bulgaria, as one of the European Union&#0039;s most recent members, with its more than 7.3 million inhabitants, is a very promising market holding a high potential and Vitosha has shown an excellent development. <br /><br />The purchase of the additional shares has been approved by all of the appropriate Bulgarian authorities.</p>