Bosnian insurer Bosna Sunce Osiguranje said on Wednesday it will absorb its local peer Zovko Osiguranje after acquiring a 100% shareholding interest in the company.


The shareholders of Bosna Sunce Osiguranje approved the merger at a meeting held on December 15, the insurer said in a filing to the Sarajevo Stock Exchange.

As of the end of October, Bosna Sunce held a 10.56% share of the insurance market of Bosnia’s Federation entity and a 7.30% share on the market of the country as a whole. Bosnia’s other autonomous entity is the Serb Republic.


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