Alpha Bank targets insurance expansion with Altius deal and finalises Alpha Trust squeeze‑out

Alpha Bank announced that its wholly‑owned subsidiary, Alpha International Holdings, has signed a definitive share purchase agreement to acquire 100% of Altius Insurance Ltd in Cyprus. The deal is the first step in a strategic combination that will merge Altius with Universal Life Insurance Public Company Ltd, creating a unified insurance group that aims to rank among the three largest insurers in Cyprus across life, health, general and accident lines. Completion is expected in the fourth quarter of 2026, subject to regulatory approvals.

In a separate corporate action, Alpha Bank reported the conclusion of a voluntary public offer for the shares of Alpha Trust Participations, reaching 96.95% ownership after acquiring an additional 69.61% through off‑exchange transactions and receiving offers for 27.34% of the remaining shares. Exceeding the 90% threshold triggers a squeeze‑out right, allowing Alpha Bank to acquire the remaining minority shares at €20.20 per share and to delist the company from Euronext Athens following a forthcoming shareholders' meeting.