At the General Meeting of Pension-Insurance Company Suglasie JSC was taken a decision for increase of the stakes of IC Vitosha JSC - from 10 to 15 per cent, and BIA - from 14 to 20 per cent. The other shareholders retain their stakes - Bulbank JSC - 26.5 per cent, Orel Invest JSC - 27 per cent, and Orel G Holding JSC - 8 per cent.
Source: Capital (25.10.1999)

German re-insurance companyMunich Re bought 20 per cent, without oine share, of the capital of Orel-G Holding, the Chariman of Bulgarian company Mr. Dobromir Gushterov reported.The deal was officialy finalzed on December 15, 1999, but the holding company refused to declare the price of the deal. Munich Re has no intention to change the current management policy. A priority will be the development of the Saglasie pension insurance company and Zakrila helath insurance company. The majhor shareholder in Orel-G JSC i s Expert Gusterov. Bulbank JSC holds 40 per cent of the holding's capital but there are ongoing negotiations over reducing the stake down to 29 per cent. The Holding group comprises Orel Insurance Comapny, Phoenix Life Insurance Comapny, Saglasie Pension Fund, Zakrila Helath Insurance Company JSC, Eurofinance JSC, Orel Leasing and Orel Invest Holding.
Source: Sega (17.12.1999)