Doverie United Holding has reached an agreement to sell its 98.15% subsidiary “United Health Insurance Fund Doverie” to Generali CEE Holding B.V., the majority owner of Generali Insurance AD. The deal is pending regulatory approvals. The price of the deal has not been disclosed yet. Note that Doverie’s insurance subsidiary had BGN 25.5m income from insurance operations in 2023, increasing by 25.1% YoY and net profit of BGN 1.4m, -22% YoY. Our expectation is that the deal will result in significant profit on stand-alone basis as the book value of Doverie’s investment as of 30 June stand at BGN 4.7m.