May 23, 2018 / 2:03 PM / in 10 months

UPDATE 1-Generali to buy Slovenian insurer Adriatic Slovenica

(Updates with price, quote, details)

LJUBLJANA, May 23 (Reuters) - Insurer Generali CEE Holding BV, a part of Italian Generali Group, has agreed to buy Slovenia’s third-largest insurer Adriatic Slovenica in a deal worth 245 million euros ($286.85 million) from KD Group.

“With the takeover Generali Group will become the second-largest insurer on the Slovenian market,” Generali said in a statement, adding that the takeover still needs regulatory approval.

“We see the region of the Central and Eastern Europe as very important for our further strategic growth and investments, “ Generali’s regional director for Austria, Central and Eastern Europe and Russia Luciano Cirina said in a statement.

$1 = 0.8541 euros Reporting by Marja Novak, editing by Louise Heavens

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