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Baloise strengthens position in Luxembourg market

Bâle, 4 août 2015. Grâce au rachat de l'assureur non-vie HDI-Gerling Assurances SA Luxembourg, Baloise Group renforce sa position sur le marché luxembourgeois. Le volume de primes de HDI-Gerling Luxembourg, qui opère exclusivement dans ce marché, s'élève à près de 5 millions CHF*. Avec cette acquisition, Bâloise Assurances Luxembourg SA s'assure des primes supplémentaires attrayantes dans un marché très rentable.

HDI-Gerling Assurances SA Luxembourg was founded in 1989 and is a pure-play non-life insurer. The Baloise Group is buying the company from HDI-Gerling Industrie Versicherung AG, which is part of the German Talanx Group for an amount in the mid single-digit millions. HDI-Gerling Luxembourg earned premiums worth around CHF 5 million* in 2014. "By acquiring the attractive portfolio held by HDI-Gerling Luxembourg, we are strengthening our highly lucrative non-life business and are gearing up to become one of the top three insurers in Luxembourg," commented Martin Strobel, the Baloise Group's CEO, on the purchase. The deal will also help to further improve Baloise's profitability.

Bâloise Assurances Luxembourg expects its acquisition to be integrated swiftly. All employees of HDI-Gerling Luxembourg will be taken on. The transaction has yet to be approved by the regulatory authorities and is expected to be completed during the second half of this year.

*around 5 million EUR