Dunav osiguranje gets green light for Takovo osiguranje takover

The Commission for Protection of Competition of Serbia has given the green light to Dunav osiguranje to acquire non-life insurance operations of Kragujevac-based Takovo osiguranje undergoing liquidation.

It has been assessed that after the takeover, Dunav osiguranje will hold a share of 30-40% in the insurance market in Serbia, provided that it keeps all previous clients of Takovo osiguranje, meaning that there is no threat to fair market competition.

The Commission explains in a decision published on its website that the acquisition of non-life insurance operations of Takovo osiguranje will protect the clients of that company that the National Bank of Serbia (NBS) deprived of the operating permit in July 2014.

NBS has approved of the transfer of Takovo osiguranje's insurance operations to Dunav osiguranje.