News Post on 07 August 2015

Wildgen has advised on the sale of HDI-Gerling Assurances S.A. Luxembourg.

Wildgen, Partners in Law acting through Mevlüde-Aysun Tokbag, Partner, and Matthias Schmidt, Senior Associate, advised the Talanx Group within the sale of the HDI-Gerling Assurances S.A company.

Luxemburg.HDI-Gerling Industrie Versicherung AG (Talanx Group) is selling its subsidiary HDI-Gerling Assurances S.A. Luxemburg at a price in the middle single-digit million euro range to the Luxembourg-based Bâloise Holding S.A..

The company to be divested is active in motor, property & casualty insurance with a special focus on retail and commercial customers in Luxembourg. It generated a gross premium volume of around EUR 4.67 million in the 2014 financial year.

Going forward, HDI-Gerling will continue to provide its industrial and corporate clients in Luxembourg with industrial insurance solutions from its branch in Belgium. The division is streamlining its portfolio in the Benelux region through disposal of the Luxembourg unit. The transaction is still subject to the customary regulatory approvals.

About Talanx
With premium income of EUR 29.0 billion (2014) and more than 21,300 employees, Talanx is one of the major European insurance groups. The Hannover-based Group is active in some 150 countries. Talanx operates as a multi-brand provider with a focus on
B2B insurance. The Group’s brands include HDI, which operates in Germany and abroad, the global industrial insurer HDI-Gerling, Hannover Re, one of the world’s leading reinsurers, Targo Versicherungen, PB Versicherungen and Neue Leben, the latter all specialized in bancassurance, the Polish insurer Warta, and the financial services provider Ampega. The rating agency Standard & Poor’s has given the Talanx Primary Group a financial strength rating of A+/stable (strong) and the Hannover Re Group one of AA–/ stable (very strong). Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX as well as on the stock exchanges in Hannover and Warsaw (ISIN: DE000TLX1005, German Securities Code: TLX100, Polish Securities Code: TNX).

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