SOFIA, July 20 (Reuters) - Bulgarian insurer Euroins 5IC.BB said on Monday it has agreed to buy the Greek insurance operations of France's Credit Agricole CAGR.PA for an undisclosed sum, expanding its push across eastern and southeast Europe.
Part of Eurohold Bulgaria 4EH.BB , Euroins expects the deal for Greece's Credit Agricole Life, whose financial assets exceed 500 million euros ($542.85 million) to close by the end of 2015 following regulatory approvals.
"We took advantage of the uncertain economic situation in Greece and the withdrawal of major European financial groups from the market by acquiring a company with a well-developed business under favourable conditions for us," Eurohold Bulgaria Chairman Asen Hristov said in a statement.
Euroins, which operates in seven eastern European markets, has acquired Germany's Talanx Group's TLXGn.DE subsidiaries in Bulgaria and Ukraine, Dutch insurer Achmea's insurance business in Bulgaria as well as Australian group QBE's QBE.AX operations in Romania and Bulgaria in the last two years.
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