Project description
and objectives:
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Potential equity investment of up to 20 per cent in Slovenska Poistovna (SP), the largest non-life and life insurance provider in the Slovak Republic, alongside a qualifying strategic investor as part of the company’s privatisation. The investment will support the restructuring of SP and, in particular, its institutional strengthening and the expansion of its product portfolio. In addition the project will support the development of enhanced marketing and distribution capabilities and the continued disposal of non-core equity investments.
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Transition impact:
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The project will support the development of SP, bringing additional technical know-how to the company (both in terms of training for local employees and through the development of new systems and products) and aid the development of the Slovakian insurance market. It will also act as a model for other similar projects, stemming in particular from improved corporate governance.
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The client:
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SP is the largest insurance company in the Slovak Republic providing both life and non-life insurance products. In 2000, SP had a 56 per cent non-life market share and a 36 per cent life market share. With four regional offices, 34 branches and 108 representative offices, SP operates across the whole of the Slovak Republic.
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EBRD finance:
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Equity investment up to a maximum of 20 per cent. Cost to be determined.
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Total project cost:
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To be determined.
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Environmental impact:
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SP will be required to conduct its insurance and asset management operations in accordance with the EBRD’s Environmental Guidelines for the Insurance Sector.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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EBRD contact:
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Andreea Moraru, Operation Leader: morarua@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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