This additional capital formation is the beginning of a strategic partnership between IFC and the Triglav Group, aimed at the expansion and consolidation of the Triglav Group’s operations in existing and potential new markets.

Matjaž Rakovec, President of the Management Board of Zavarovalnica Triglav and Tomasz Telma, IFC Director for Europe and Central Asia, today signed the Subscription Agreement, Shareholders Agreement, and Put Option Agreement. The signing of these agreements is a key milestone in the implementation of Zavarovalnica Triglav’s Strategy for the 2011–2015 period regarding the expansion and consolidation of the Triglav Group’s operations in the existing markets of the Western Balkans and potential new ones. In this way, the Triglav Group will be able to make its insurance services more readily accessible as well as raise insurance standards in the Western Balkans. As contractually agreed, IFC will invest EUR 25 million in Triglav INT and thus gain a 16.68% equity stake of the company. In accordance with the agreements, the strategic partner will nominate one member to the Management Board of Triglav INT.