Dôvera to acquire Union
- 6 hours ago
- 1 min read
Health insurer Dôvera, part of the Penta group, has signed a contract to acquire smaller rival Union from Dutch insurer Achmea. Achmea wants to focus on life and non-life insurance. Dôvera, with annual revenue of €2.6bn, will after acquiring Union (€880m) have only 200,000 fewer clients than its only remaining rival, state-owned VšZP with 2.7m policyholders. The deal puts it on course to become the market leader. The deal will be reviewed by the European Commission rather than the anti-trust authority PMÚ. The purchase price was not disclosed. Dôvera was reportedly not the only bidder. Opposition parties have criticized the deal, while the governing coalition has not commented. The opposition sees the new duopoly as posing risks to both the state and patients. Besides the insurer, Penta also owns a network of hospitals, outpatient clinics and pharmacies.
