Sorainen has advised ERGO Group on the sale of its Belarusian non-life subsidiary, ERGO Insurance Company, to the Euroins Insurance Group. BNT reportedly advised the Euronis Insurance Group.
The acquisition allows Euroins to enter the Belarusian insurance market and thus to continue its expansion in the region. In recent years Euroins has acquired insurance businesses in Bulgaria, Georgia, Romania, Russia, and Ukraine (where it acquired the former Ukrainian subsidiary of ERGO).
According to Sorainen, "the ERGO Group is an insurance group with its home market in Germany and representation in around 30 countries worldwide. The Belarusian operations of ERGO commenced in 2008 when Belarus-based BASO Insurance Company joined the group and implemented the ERGO brand."
The Sorainen team was headed by Partner Maksim Salahub and included Managing Partner Tomas Kontautas, Senior Associates Viktoryia Mikhnevich, Ann Laevskaya, Alexey Fidek, and Maria Rodich, Associate Aliaksei Vashkevich, Oiver Amarik, Alesia Khadasevich, and Tatsiana Zubarava.