CROATIA LOOKS TO SELL ITS LARGEST INSURER BY END OF THIS YEAR

Croatia’s government is hoping to sell its majority holding in the country’s largest insurer Croatia Osiguranje by the end of this year, Reuters news agency reported today. The state’s 77.5% stake is reportedly to be offered to a single foreign strategic investor. The sale plans follow a failed attempt by the Croatian government to offload its interests in the insurance group last year. Despite some expressions of interest, no binding offers were received. Croatia Osiguranje, whose operations include reinsurer Croatia Lloyd, currently controls 59% of its domestic insurance market.