Germany’s Talanx Sells Bulgaria, Ukraine Subsidiaries to Bulgaria’s EIG

      Published on Friday, 20 February , 2015      117 Views     
Germany’s Talanx Sells Bulgaria, Ukraine Subsidiaries to Bulgaria’s EIG

  • Bulgaria Business

TalanxGerman holding and insurance company Talanx has sold its subsidiaries in Bulgaria and Ukraine to Euroins, a Bulgarian insurance group.



The aim is to streamline the company’s portfolio in Eastern Europe, German news websites report. No price tag is mentioned, though a “single-digit million deal” (in EUR) is suggested by most sources.

As of 2013 the two Talanx units, HDI Zastrahovane AD (Bulgaria) and HDI Strakhuvanya (Ukraine), had generated gross premium income of EUR 13 M and EUR 16 M respectively.

The deal requires regulatory approval from both Bulgarian and German watchdogs and is expected to be finalized sometime in Q2, 2015, Investor.bg reports.

Euroins Insurance Group employs about 1,100 people and has a market share of approximately 7% in Bulgaria, Romania and Macedonia. Since last year it has been seeking to expand on the Greek market. After Friday’s deal, which allows it to set foot in Ukraine, EIG’s gross premium income is now expected to reach EUR 200 M on a yearly basis.

Talanx is the third-largest insurance company in Germany and the seventh-biggest in Europe.



http://www.novinite.com/

Keywords:
Category Bulgaria Business | 2015/02/20 latest update at 8:00 PM
Source : | Photocredit :
118 Views
Comments Add comment



Bulgarian Business Club

Related Articles

The editorial staff of Bulgarian Business Club would like to give all of its readers from Bulgaria and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Bulgarian Business Club with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter or use our RSS feed channel to always read the most important news about Bulgaria.


Sponsored Publications