AXERIA Prevoiance and AXERIA IARD, French-based companies of APRIL
Group, have obtained regulatory approval for operation on the Bulgarian
insurance market, Bulgarian information agency Dnevnik announced
October 30th. AXERIA Prevoiance will provide life insurance while AXERIA
IARD will operate in the non-life segment.
The insurers will collaborate with APRIL Risk Solutions, a joint venture
broker of APRIL Group and a local holding company AG Capital established
in 2008, according to the source. AXERIA Prevoiance and AXERIA IARD
will provide property, life, professional liability and personal insurance
services for corporate customers.
Established in 1989, AXERIA Prevoiance became part of April Group in
December 1997. The group became the sole owner of AXERIA Prevoiance
in April 2004. The company provides life and A&H insurance. Founded
in 1992 and until 2004 a part of Winterthur, AXERIA IARD provides non-life
insurance services.
Employing staff of approximately 2.5 thousand throughout 60 countries,
April Group was established in 1988. In 2007 the group's net
profit amounted to EUR72 million.
