February 1, 2007 Aspis Pronia General Insurance S.A. informs the investment public that on February 1st, 2007 its subsidiary company MFS HOLDINGS PCL which is activated in Cyprus signed a final agreement for the acquisition of 51% of the Albanian Insurance company INTERALBANIAN SHA, at the price of 2,2 mil. Euro.
The particular movement is included inside the framework of Aspis Group strategy to become the dominant Group in the insurance and banking sector in the Balkans and Eastern Europe.
Aspis Group with this acquisition becomes the first Group from Greece that enters in Albania.
INTERALBANIAN SHA is activated in the area of General Insurances and holds the sixth place (7,2% market share), while it holds the third place in car insurances (except from urban responsibility) with market share of 11,3%.
ASPIS Group’s strategy except from the rapid growth in Albania and life sector includes the expansion in Kossovo, FYROM and Montenegro.
ASPIS PRONIA GENERAL INSURANCE S.A. will immediately inform the investment public for each further progress on the project.
