EANS-Adhoc: UNIQA Insurance Group AG
UNIQA acquires Baloise Group insurance
companies in Croatia and Serbia
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announcement.
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Mergers - Acquisitions - Takeovers
22.10.2013
UNIQA acquires Baloise Group insurance companies in Croatia and Serbia
- Agreement signed for takeover of "Basler" companies in Croatia and Serbia
- Closing anticipated in 1st quarter of 2014
- Significant boost of UNIQA's market position in particular in Croatia
UNIQA Insurance Group AG (UNIQA) intends to acquire the Croatian and Serbian
insurance companies of the Swiss Baloise Group. The contract was signed on 21
October 2013. The acquisition is subject to the approval of the responsible
supervisory and antitrust authorities, and is expected to be completed in the
first quarter of 2014. The purchase price is 75 million euros.
The predecessor company of the Croatian "Basler" insurance company was founded
in 1991. The company has around 470 employees, 148,000 customers and in 2012
generated a premium volume of 53,7 million euros. With a market share of 4.5 per
cent, the company ranked 6th on the Croatian insurance market in 2012.
The Serbian "Basler" insurance company commenced operations in 2007. The company
has around 110 employees, 35,000 customers and in 2012 generated a premium
volume of 3,7 million euros. With a market share of 0.7 per cent, the company
ranked 13th on the Serbian insurance market in 2012.
Clause regarding predictions about the future
This announcement contains statements that refer to future developments. These
statements are appraisals that are made based on all information available to
UNIQA at the current point in time. If the assumptions on which they are based
do not occur, actual events may vary from the results currently expected. For
this reason, UNIQA cannot accept liability for such statements.
Further inquiry note:
UNIQA Insurance Group AG
Norbert Heller
Tel.: +43 (01) 211 75-3414
mailto:norbert.heller@uniqa.at
end of announcement euro adhoc
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issuer: UNIQA Insurance Group AG
Untere Donaustraße 21
A-1029 Wien
phone: 01/211 75-0
mail: investor.relations@uniqa.at
WWW: http://www.uniqagroup.com
sector: Insurance
ISIN: AT0000821103
indexes: WBI, ATX Prime
stockmarkets: official market: Wien
language: English
Original content of: UNIQA Insurance Group AG, transmitted by news aktuell