UNIQA - Uniqa Pojistovna

Location:

Czech Republic

Project number:

5782

Business sector:

Insurance, Pension, Mutual Funds

Notice type:

Private

Environmental category:

FI

Approval date:

30 Sep 1997

Status:

Complete

PSD disclosed:

23 Apr 1999

Project Description

The EBRD will invest in the share capital of Cesko Rakouska Pojistovna (CRP), the 10th largest Czech insurance company owned by BARC of Austria. This sub-project will be executed under the BARC Multi-Project Facility (MPF), which was Board-approved in September 1997.

The capital increase facilitating the EBRD’s entry will provide the capital required for future expansion of CRP’s business. In particular, it will finance investments in connection with the demonopolisation of compulsory motor insurance in the Czech Republic.

Transition Impact

The Multi-Project Facility with BARC will have a significant impact on the transition process by:

  • contributing to greater competition in insurance sectors
  • contributing to a widening of consumer choice through product innovation assisting in the development of the local capital markets in the Bank's countries of operations. Insurance provides an important source of capital for the development of the economy through the investment of insurance reserves.

The Client

The EBRD will invest in the share capital of Ceska Rakouska Pojistovna, the 10th largest Czech insurance company owned by BARC, the Austrian insurance holding. CRP is a composite insurer predominantly operating in the non-life market and offers over 30 lines of business.

EBRD Finance

Equity investment of Kc 103.2 million (EUR 2.7 million) through the purchase of ordinary shares.

Project Cost

The capital increase brings CRP’s share capital to Kc 480 million.

Environmental Impact

The Environmental Guidelines for EBRD Multi-Project Facilities in the Insurance Sector apply to this operation.

Technical Cooperation

None

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

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Text of the PIP

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