31/07/2009

"Societe Generale osiguranje" Gets Operating License

The National Bank of Serbia granted an operating license to the Belgrade-based joint-stock insurance company "Societe Generale osiguranje" whose core activity is the provision of life insurance services (life insurance, annuity insurance, supplemental life insurance and other types of life insurance envisaged by the law).

The majority founder of the company, with a 51% share, is a legal entity Sogecap SA, a French life insurance company and subsidiary of Societe Generale Group. Societe Generale banka Srbija holds the remaining 48% share. The company’s managing director is Mr Stephane Debard.

The majority founder is a world renowned financial business group, which has been operating in the Serbian banking sector for several years now.  By founding "Societe Generale osiguranje", it reinforces its position in the domestic financial market and adds to the list of services on offer to Serbian consumers. This is the second insurance company in Serbia in the majority ownership of entities from France.

The EUR 3.5 million investment adds to Serbia’s financial potential and is a clear proof of confidence in the stability of the domestic financial system in spite of the global financial turmoil.


Governor`s Office