Financia Group, the financial services division of Bulgarian conglomerate Alfa Finance Holding, said that it has completed the acquisition of 51 per cent of Bulgarian insurance broker Broker Ins.

The current owners of the brokerage, Roumen Staikov, Stean Enchev and Konstantina Dragieva, will retain a stake of 49 per cent as well as full executive management control.

As a result of the deal, Broker Ins clients will get access to services like mutual funds and trust management provided by Financia Group.

Financia Group will establish a similar agreement will with Eurobroker in Macedonia.

Financia Group comprises investment brokerage Bulbrokers, corporate finance advisor Bulbrokers Consulting, asset manager Alfa Asset management, and Alfa Credit, a special purpose vehicle for the securitisation of receivables.

Alfa Finance Holding owns a majority stake in more than 60 Bulgarian companies active in financial services, real estate management, mining and logistics.