Two new companies – Velebit Insurance and Velebit Life Insurance – are expected to start operating in the Croatian insurance market soon, in which Insurance Maribor (Zavarovalnica Maribor) is indirectly one of the co-owners, confirmed the Slovenian insurance company.
"Zavarovalnica Maribor is indirectly one of the co-owners of Velebit Insurance, but we cannot speak about the ownership structure and share at this moment. Likewise, we cannot yet discuss the plans of the two insurance companies that are being established. We expect both companies to become operational by the end of this year," the insurance company responded to the inquiry about the ownership structure of Velebit companies and plans in the Croatian market. In May, Slovenian Insurance Maribor (Zavarovalnica Maribor) announced that this year they intend to open two insurance companies in Croatia (for non-life and life insurance).
For operations in the Croatian market, the two new insurance companies in formation recently received permission from the Croatian Financial Services Supervisory Agency (Hanfa) to conduct insurance business. Hanfa granted Velebit Insurance d.d. "in formation" permission to conclude and fulfill contracts for non-life insurance, and Velebit Life Insurance d.d. "in formation" permission to conclude and fulfill contracts in the life insurance group.
Hanfa also approved Velebit Services d.o.o. to acquire more than 50 percent of shares in Velebit companies and granted approval for the Management Board members – Dražen Kulić and Krešimir Vrbić in Velebit Insurance, and Tibor Kralj and Kristina Cvitanović Zorić in Velebit Life Insurance. (Hina)
