KBC Group, a Belgian universal multi-channel bank-insurer, completed the acquisition of the Bulgarian pension insurance and life insurance businesses of NN, one of the largest insurance and asset management companies in the Netherlands, for €77m ($92m). "I am delighted with this acquisition in Bulgaria. We’ve become a strong player in this core market, distinguishing ourselves in our banking, insurance, asset management and leasing lines of business. Since our Group’s entry in Bulgaria in 2007 our commitment to the Bulgarian market has been firmly stated many times. Today we are taking a next step and adding pension insurance to our already wide-spread presence in Bulgaria. This means that we will be in a position to offer all types of high-end integrated bank-insurance products to our Bulgarian customers. We’re extremely happy to acquire a high-quality concern with an excellent reputation and management team, and we are looking forward to developing it in a responsible manner with our other Bulgarian entities, and so affirm our leading position on the Bulgarian financial market," Johan Thijs, KBC Group CEO.