Sava Re acquires NLB Vita

Sava ReSava Re has acquired the Slovenian life insurer NLB Vita, which is equally owned by Nova Ljubljanska Banka (NLB) and KBC insurance NV (KBC), both of which are also Slovenian. The transaction would be completed in the first half of 2020.

Once the transaction is finalised, KBC will withdraw completely from the Slovenian market to focus on Belgium, the Czech Republic, Slovakia, Hungary, Bulgaria and Ireland. NLB Vita is Slovenia's second largest life insurer with a market share of 14.8% in 2018.

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