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.
‘Ghost Broker’ Who Procured 1,120 Policies Through Fraud Arrested 
Need Wind Mitigation? New Florida Insurer Wants to Help With That 
Virginia’s New Gun Laws Challenged by Some Local Prosecutors and Lawsuits 
Mississippi Insurance Dept. Top Examiner Named in $90M Credit Union Theft Suit 
