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's managing director, Dr Konstantin Klien. Bulgaria, as one of the European Union'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>