Alpha Bank announces merger of Altius Insurance and Universal Life in Cyprus

Alpha Bank has reached an agreement on key commercial and legal terms for a strategic merger of insurance operations in Cyprus, with the goal of forming one of the country’s top three insurance groups in both life and non-life sectors. The agreement involves Universal Life Insurance Public Company and Altius Insurance, and is expected to secure a leading position for the combined entity in the accident and health segment of the Cypriot insurance market. The agreement covers Alpha Bank’s acquisition of a ...