Helvetia takes over Basler in Austria for EUR 130 million
Takeover of Basler Versicherungen strengthens position of Helvetia Austria as a specialised transport insurer
The Helvetia Group is set to purchase Basler Versicherungen in Austria, a subsidiary of Baloise Group. In 2013, the portfolio comprised a premium volume of EUR 135.3 million, of which non-life accounted for EUR 105.5 million and life for EUR 29.8 million. Provided that the responsible regulatory authorities grant their approval, the transaction is to be completed in the second half of 2014. The purchase price is EUR 130 million.
Upon completion of the transaction, Helvetia will have expanded its volume in Austria by more than 50 per cent, and, with its premium volume of approximately EUR 400 million, will be one of the Top 10 insurance companies in the country.
In Austria, Helvetia is active in all segments of the life, loss and accident business for private customers and SMEs. It is also a specialised transport insurer. By taking over Basler Versicherungen, Helvetia broadens the range of its Austrian operations. It thus expands its advisory network both in the strong exclusive sales and in agency and broker sales. The consolidation of central services enables further professionalisation and more efficiency.
Helvetia Versicherungen AG is active in the life, loss and accident business, and almost 650 employees provide services to more than 300,000 customers, generating EGT of EUR 6.7 million in 2013. In the 2013 financial year premium volume of Helvetia in Austria (life, non-life and transport insurance) amounted to EUR 262.9 million.
www.helvetia.com/at
Quelle: LogEastics
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