IFC to acquire a 20% stake in Kniazha and USG from Vienna Insurance Group.

IFC, a provider and mobilizer of scarce capital, knowledge, and long-term partnerships, agreed to acquire a 20% stake in Kniazha and USG, an insurance companies, from Vienna Insurance Group, an international insurance group. Financial terms are not disclosed. "We have been working with the IFC since the end of 2022, when it acquired a stake in our Bulgarian pension fund Doverie. While the focus in Bulgaria is on expanding the pension fund business to strengthen capital-funded pension provision and combat poverty in old age, extending insurance cover in Ukraine is essential for the future reconstruction of the country. With IFC and our existing partnerships with AON and Lloyd’s, we are preparing to take an active role in the renewal process of this country." Peter Höfinger, Vienna Insurance Group Deputy CEO.