Vienna Insurance Group

Vienna Insurance Group (VIG) is moving in the fast lane in Bulgaria. According to current data from the local financial supervisory authority, the two VIG Group companies Bulstrad and Bulstrad Life are number 1 in the Bulgarian insurance market.

Bulgaria's Bulstrad, part of Vienna Insurance Group (VIG), has completed the acquisition of the country's bancassurer UBB-AIG, VIG said on Tuesday.

Simultaneously with the acquisition, a cooperation agreement with United Bulgarian Bank (UBB) has been signed, VIG said in a statement.

Bulgaria-based Bulstrad, part of Vienna Insurance Group (VIG), has signed a deal to acquire 100% of UBB-AIG and conclude a cooperation agreement with United Bulgarian Bank (UBB), VIG said on Tuesday.

The price of the deal wasn't disclosed but Bulstrad said last month it planned to acquire full control of UBB AIG by buying five million ordinary shares for a total of EUR 3.2 M.