Kambourov & Partners advises Achmea on the transfer of its Bulgarian insurance activities

The Corporate and M&A team of Kambourov & Partners advises the Dutch insurance group Achmea on a transaction concerning Achmea’s Bulgarian subsidiaries Interamerican Non Life and Interamerican Life. On Wednesday, 21 August, an agreement was reached between Achmea and Euroins Insurance Group for the acquisition of the entire insurance portfolio of Interamerican Bulgaria and Interamerican Bulgaria Life Insurance by Euroins. The transaction is supposed to be finalized within the second half of 2013 and is subject to approval by the regulatory authorities.
Achmea is an insurance group based in the Netherlands, but also active on another five European markets - Turkey, Russia, Greece, Slovakia, Ireland. Achmea is the parent company for strong brands such as Centraal Beheer Achmea, Interpolis, Avéro Achmea, Zilveren Kruis Achmea, FBTO and Agis. Together they form the largest insurance group in the Netherlands in terms of premium volume.
Euroins Insurance Group is one of the largest independent groups operating at the CEE insurance markets. Euroins is a subsidiary of Eurohold Bulgaria leading Bulgarian company with operations across the Balkans focused on non - banking financial services and asset management.
Following the deal between Achmea and Euroins Insurance Group, Euroins will dispose of the full range of insurance licenses – non-life, life and health, thus being fully equipped to offer its clients a complete portfolio of insurance products. This is also a step forward in strengthening Euroins’s position as a leading insurance group in the region, and a sign of consolidation in the Bulgarian insurance sector.
Kambourov & Partners Corporate and M&A team, led by partner Vladimir Rangeloff, acted on behalf of Achmea and advised on the entire negotiation process, the drafting and conclusion of the agreement, the overall preparation of the transaction, which involves a combination of share and asset deals.
The material interest of the upcoming transaction is currently confidential.