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 high-quality 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 HDI-Gerling Industrie Versicherung AG
As an industrial insurance company, HDI-Gerling Industrie Versicherung meets the needs of industrial and commercial customers with insurance solutions that are specifically tailored to their requirements. Alongside the outstanding profile of the company in the German market, the company also has operations in more than 130 countries through foreign branch offices, subsidiary and peer companies, and network partners. The Company is thus able to offer its customers local policies for their global operations, which ensure that the established service and insurance protection is extended for all covered risks world-wide. HDI-Gerling is a company in the Talanx Group and manages the Industrial Lines Division within the Group. More than three thousand employees in this division generated approx. four billion euros gross premium in the year 2014. The rating agency Standard & Poor’s has given the Talanx Primary Group a financial strength rating of A+/stable (strong). Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX as well as on the stock exchanges in Hanover and Warsaw (ISIN: DE000TLX1005, German Securities Code: TLX100, Polish Securities Code: TNX).
This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s control, affect Talanx AG’s business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialise, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.