MOSCOW. April 11 (Interfax) - Insurance company Blagosostoyanie has signed an agreement with Netherlands-based Home Credit B.V. to acquire 100% of OJSC PPF Insurance, Blagosostoyanie said in a statement.

A Blagosostoyanie representative said the goal of the acquisition was to expand the insurance products offered by the company by adding general insurance products such as mortgage insurance, financial risk insurance for cardholders, property insurance and others.

"The main asset for us as the buyer is the set of licenses the company has. This acquisition will allow us above all to develop business with bank partners that work with credit cards and mortgages and to begin working with new banks that already operate with universal insurance groups. [This acquisition] will also open up prospects for new product sales, including investment [products]," the executive director of Blagosostoyanie, Dmitry Maksimov, is quoted in the statement as saying.

PPF Insurance holds licenses for 17 types of insurance, including insurance against accidents and diseases, health insurance, property insurance for legal entities and individuals, insurance for entrepreneurial and financial risks and vehicle liability insurance for automobile owners.

PPF Insurance was merged with insurance holding Generali PPF in 2012 before becoming part of Home Credit B.V. in 2013 as a result of a deal to restructure the business of a Generali PPF Holding JV in Central Europe, Eastern Europe, Russia and the CIS.

The decision to sell the company was made in connection with the further reorganization of PPF