Netrisk acquires Czech, Slovak peers

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Hungarian insurance broker Netrisk on Wednesday said it acquired online policy comparison platforms in the Czech Republic and Slovakia, according to a report by state news wire MTI.

Netrisk acquired Porovnej24.cz, the third-biggest player on the Czech market, and Netfinancie.sk, runner-up in Slovakia.

Netrisk has had a presence in the two countries since May 2020, when it acquired Klikpojisteni.

With the latest acquisitions, Netrisk will manage more than 1.1 million policies in the Czech Republic and Slovakia.

Netrisk chairman László Sebestyén said the company's continuing activities on the Czech and Slovakian markets are a "key element" of its strategy for expansion in the region.

Zbynek Laisek, the CEO of Porovnej24 operator L2S, said the transaction would give Porovnej24 the necessary resources to become market leader in the Czech Republic.

Netfinancie.sk CEO Vladimir Cvik said the tie-up would accelerate the companies' innovation.

Netrisk is the biggest independent online insurance broker in Hungary, offering compulsory vehicle policies, comprehensive vehicle insurance, and home and travel insurance. It has more than 1 million registered clients in Hungary.

Boston-based TA Associates owns 75% of Netrisk and MCI Group, headquartered in Warsaw, holds 23.7%.

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