Uniqa acquires EBRD stakes in its units in Croatia, Hungary and Poland

Austrian insurer Uniqa has signed a deal to buy the European Bank for Reconstruction and Development's stakes in some of its emerging Europe units, the Austrian insurer said on Wednesday.

The accord, for which it gave no financial terms, covers EBRD stakes of 20 percent in Croatia, 15 percent in Hungary and just over 30 percent in two Polish units, it said.

Closing of the deal, which Uniqa had already flagged, is expected within weeks, it said.

This transaction is part of Uniqa´s growth strategy that was announced March 2012.

The company is aiming to double its customer base, from 7.5 million customers in 2010 to 15 million by 2020, and to increase its earnings by up to € 400m in the period from 2010 to 2015. In order to achieve these targets, Uniqa is focusing on its core business in its core markets in Austria and CEE.