The Financial Supervision Commission (FSC) has been notified by the competent authority of Czech Republic (Czech National Bank (CNB)) of the merger from the insurance undertaking “Credendo – Short-Term EU Risks úvěrová pojišťovna, a.s.” to “Credendo – Short- Term Non – EU Risks SA”, including insurance contracts on which Bulgaria is a Member State where the risk is located. After reviewing the portfolio documents, the FSC decided to send a letter to the national competent authority of Czech Republic on granting consent of the merger of “Credendo – Short-Term EU Risks úvěrová pojišťovna, a.s.” to “Credendo – Short- Term Non – EU Risks SA”

After the merger “Credendo – Short-Term EU Risks úvěrová pojišťovna, a.s.” intends to cease activities and “Credendo – Short- Term Non – EU Risks SA” will change its name to “Credendo – Trade Credit Insurance” and will continue to operate on the territory of the Republic of Bulgaria under the conditions of the freedom to provide services.