The state financial commission has allowed to AIG Europe SA to acquire the full stake in its local subsidiary AIG Bulgaria Insurance Company, a note on the website of the regulator reads. The takeover is part of the strategy of AIG to run general insurance services in the country only through its branch, which is not operational for the time being. The acquisition should be completed by the end of the year. AIG Bulgaria Insurance Company was the fifteenth largest general insurer in the country last year accounting for 1.2% of the market. Its market share dropped to 0.9% as of the end of March. The premium revenues of the company rose by 4.6% to BGN 18.2mn (EUR 9.3mn) last year but fell by 29.8% y/y to BGN 3.3mn in Q1. AIG runs also the sixth largest life insurer in the country AIG Life Bulgaria , which controlled 9.1% of the line market in Q1.