April 13, 2018 / 9:57 AM / 8 months ago

Slovenia's Sava Re to take over two Croatian insurers

LJUBLJANA, April 13 (Reuters) - Slovenia’s Zavarovalnica Sava, part of insurance group Sava Re, will sign a contract on Friday to buy 100 percent of Croatian insurers Ergo Osiguranje and Ergo Zivotno Osiguranje, Sava Re said in a statement.

The companies will be purchased from Ergo Austria International AG and Ergo Versicherung Aktiengesellschaft, it said, but did not reveal further details.

Zavarovalnica Sava operates in Slovenia and Croatia.

Shares of Sava Re shares were up 2.29 percent to 17.9 euros at 0929 GMT following the news, outpacing the blue-chip SBI index which was up 0.61 percent. (Reporting by Marja Novak; editing by Jason Neely)

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