Corporate News

HDI International AG sells its Russian life insurance unit to Sovcombank

Talanx subsidiary HDI International AG is selling its Russian life insurance unit OOO Strakhovaya Kompaniya CiV Life (CiV Life) to Russian Sovcombank.


With this sale the Talanx Group is streamlining the portfolio of its Retail International Division in Central and Eastern Europe and underscoring its focus on profitable growth in its core markets. The Industrial Lines business of HDI Global SE in Russia remains unaffected by the transaction and will be continued.

CiV Life generated gross premium income equivalent to around EUR 83 million in 2020. The transaction is expected to close in the first quarter of 2022 and is subject to regulatory approval. The parties have agreed not to disclose the purchase price.


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.