The Groupama Group announces the signing of an agreement by its Hungarian subsidiary Groupama Biztosito, to acquire the Croatian insurance company, OTP Osiguranje, owned by OTP Banka d.d.

Groupama Biztosito, Hungarian subsidiary of Groupama Group, and OTP Banka d.d., Croatian subsidiary of OTP Bank Plc, signed an agreement on the sale and purchase of 100% of the shares of the insurance company OTP Osiguranje.

This transaction demonstrates the close links between Groupama and OTP Bank in the Central and Eastern European countries. Upon completion of the agreement, the Group would extend its geographical footprint to an 11th country, Croatia.

The transaction is expected to be completed during the 1st half of 2021 subject to obtaining regulatory approvals.