Bulgaria insurer Lev Ins plans IPO on London Stock Exchange

March 9, 2010

The Bulgarian insurer Lev Ins said it plans to IPO on the stock exchange in London and its CEO Stefan Sofiyanski has left for London to meet with representatives of UBS and JP Morgan, who were interested in underwriting the issue, newswires reported. No other details have been unveiled by now. Lev Ins is the third largest general insurer in the country, accounting for 10.8% of the line market in terms of general insurance premiums in Jan-Nov (up from 8.2% a year earlier).