Winterthur, the insurance arm of Credit Suisse Group, has agreed to purchase CGNU’s Belgian p/c business for €117 million ($102.65 million). The acquisition would make Winterthur the fifth largest Belgian p/c insurer, and the third largest working with brokers.
Gross premiums in the non-life sector would rise 32 percent from €341 ($299.2 million) to €500 million ($438.7 million).The deal is expected to be completed by the end of the year.
Was this article valuable?
Here are more articles you may enjoy.
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation 
Florida Insurance Costs 14.5% Lower Than Would Be Without Reforms, Report Finds 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
Allstate CEO Wilson Takes on Affordability Issue During Earnings Call 
