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.
US P/C Industry Books Best Result in a Decade but Not All Lines Enjoy Success 
Allstate’s $1.7M RICO Claims Fraud Suit Merits Trial, Not Arbitration: NJ High Court 
FDA Walks Back Positive Lab Test in Lettuce Cyclospora Outbreak 
Iran Renews Attacks on Gulf States After Another Night of US Strikes 
