Business Wire

Athora Completes Acquisition of Generali Belgium

Jaa

Athora Holding Ltd. (together with its subsidiaries, “Athora”) today announced that it has completed the acquisition (“Acquisition”) of Generali Belgium SA / NV (“Generali Belgium” or the “Company”), the Belgium-based insurer. The final consideration paid is approximately €540 million. The Company will be rebranded to Athora Belgium prior to the end of the second quarter of 2019.

Athora Group Managing Partner Michele Bareggi stated “The completion of this transaction is another milestone in our journey to create a leading European long-term insurance and reinsurance business. Athora now has a stable, efficient and scalable platform to serve our operations in Belgium and to drive growth. The Belgian market offers opportunities for Athora to continue to develop the Company’s retail insurance business and we are looking forward to building on Generali Belgium’s 117 years of invaluable history and experience.”

Eric Viet, Athora’s Head of Benelux stated “In addition to growing the Generali Belgium business, we plan to deploy substantial capital over the next few years in Benelux and are actively looking at growth in the region.”

“Athora’s shareholder base is comprised of 26 high-quality, long-term minded global investors that share our vision for building a market leading insurance and reinsurance business which offers acquisition, portfolio transfer and reinsurance solutions to insurers. We have a long-term interest in the Belgian market beyond a single transaction” noted Mr Viet.

After adjusting for the Acquisition, Athora has approximately €15 billion of consolidated assets, roughly 800,000 policyholders, and nearly 800 employees across five jurisdictions.

Dorsan van Hecke, Generali Belgium’s Interim CEO, commented “With the arrival of Athora, we are entering into a new chapter in the Company’s long history in Belgium and it is important that Athora provides continuity for our broker partners and customers. We have strong ambitions for our business lines and we will continue to invest in our relationship with brokers so that they have the tools to offer competitive products and services to customers. The Company remains a Belgian regulated entity and its insurance policies will stay in Belgium.”

###

About Athora Holding Ltd.

Athora, through its subsidiaries, is a specialist solutions provider in the European insurance and reinsurance market. The company offers acquisition, portfolio transfer and reinsurance solutions to insurers to free up capital, management capacities and operating resources. The Company’s principal operational subsidiaries are Athora Lebensversicherung AG, located in Wiesbaden, Germany, Generali Belgium NV/SA, located in Brussels, Belgium, Athora Ireland plc, located in Dublin, Ireland, and Athora Life Re, a Bermuda-domiciled reinsurer. The Athora group has about 800 employees, 800,000 policyholders, and total consolidated assets of approximately €15 billion. For more information see www.athora.com.

About Generali Belgium NV/SA

Generali Belgium has been present in Belgium since 1901. From its head office in Brussels, Generali Belgium serves approximately 530,000 customers and sells a range of life and non-life insurance policies through a network of around 1,000 independent brokers across the country. In 2017, total premium income amounted to approximately €640 million and Generali Belgium's asset portfolio amounted to approximately €6.5 billion.

Contact information

Athora Holding Contacts
Belgium:
Jeremy Bossu
Edelman
+32 473 499 567
athora@edelman.com

Germany:
Andrea Maibaum
Hering Schuppener
+49 69 921 874 26
amaibaum@heringschuppener.com

The Netherlands
Frans van der Grint
Confidant Partners
+31 6 29 04 40 53
frans.vandergrint@confidantpartners.com

All other markets:
Kate Campbell
Group Head of Corporate Affairs
+353 1 688 0357
kate.campbell@athora.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

Axonics® Announces U.S. Food & Drug Administration Approves Use of Full-Body MRI for Pivotal Study Patients18.6.2019 13:00:00 EESTTiedote

Axonics Modulation Technologies, Inc. (NASDAQ: AXNX), a medical technology company focused on the development and commercialization of novel implantable sacral neuromodulation (“SNM”) devices for the treatment of urinary and bowel dysfunction, today announced the U.S. Food & Drug Administration (“FDA”) approved the use of full-body magnetic resonance imaging (“MRI”) using 1.5 Tesla MRI scanners for clinical study patients implanted with the Axonics System. The approval was a result of a supplement filed by Axonics with the FDA under the Investigational Device Exemption (“IDE”) regarding the Company’s ARTISAN-SNM 129-patient pivotal clinical study. The FDA concluded that Axonics provided sufficient data to support full-body MRIs. Raymond W. Cohen, CEO of Axonics, commented, “Allowing full-body MRI scans for our clinical study patients means that none will have to undergo an explant of their neurostimulator device should they require an MRI. We view this as a very positive step by the FD

Norsk Titanium Receives Airbus Contract for Qualification and Production18.6.2019 13:00:00 EESTTiedote

Officials with Norsk Titanium (Norsk) announce today a contract award from Airbus for the Qualification and Serial Production of the first parts to be manufactured utilizing wire-based Direct Energy Deposition (DED) additive manufacturing technology. “We have worked closely with Airbus over several years to demonstrate the technological maturity and the industrial readiness of our Rapid Plasma Deposition™ (RPD™) process,” said Norsk President and CEO Michael Canario. “This contract award is structured to enable long-term, serial production immediately following qualification. Our Plattsburgh, New York facility, with the assistance of Airbus technical leadership, has been preparing for this moment and is eager to demonstrate a 21st century advanced additive manufacturing capability.” This qualification of Airbus parts will demonstrate the suitability of the DED additive manufacturing process for aircraft structural parts. It will formalize the process by which individual parts are produ

Innovusion Announces Its High-Resolution Image-Grade LiDAR System “Cheetah”, Enabling the Safest Performance in the Vehicle Mobility Industry18.6.2019 12:00:00 EESTTiedote

Innovusion Inc., the worldwide leader in the design and development of innovative hybrid Solid State LiDAR systems for vehicle safety applications, has announced the availability of its Cheetah system. Based on its innovative rotating polygon optical architecture, Innovusion has melded together proprietary detector electronics, advanced optics and sophisticated software algorithms to offer a system that has no equal in the long-distance, high-resolution LiDAR vehicle mobility system industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190618005066/en/ Innovusion's Cheetah long-distance LiDAR System...the safest in the mobility safety industry (Graphic: Business Wire) Smart architecture, streamlined optics design, and integrated optical paths result in rapid manufacturing, scalability into automotive production, and lower cost. The ability to provide a detection range of 200 meters on objects with 10% reflectivity and cle

You Bank the Digital Asset Banking Platform Presents at UNCHAIN 2019 in Berlin18.6.2019 11:25:00 EESTTiedote

The Blockchain Conference UNCHAIN 2019 was held in Berlin, Germany, from June 14 to 15, 2019. You Bank, a digital asset banking platform, attended and delivered a speech at the conference. You Bank has henceforth made a brilliant appearance in the European market and officially opened the prelude of the global layout! You Bank’s Digital Asset Banking Platform, the Federal Reserve of the Digital World You Bank, a world-class multinational blockchain financial service platform, is a well-deserved global leader in the field of digital asset management. Headquartered in Singapore, You Bank was founded by the Richmond family, one of the nine Jewish families known as the "Rothschild" family in the digital world. You Bank Global CEO Daniel attended and delivered a speech at the conference. He introduced that the original intention of You Bank was to establish a digital bank which could operate world-widely in the digital economy era. You Bank will cover digital asset management, digital asset

Norsk Titanium Marks Milestone in Additive Manufacturing18.6.2019 11:00:00 EESTTiedote

Officials with the University of Notre Dame Turbomachinery Laboratory (NDTL), Norsk Titanium (Norsk), Pratt & Whitney and TURBOCAM International announce the continuation of testing of an additively manufactured integrally bladed rotor (IBR). Building on initial testing completed in 2018, this next phase of testing examines the dynamic properties of the IBR. Manufactured using Norsk’s revolutionary Rapid Plasma Deposition™ (RPD™) process, the IBR was inspected to the same quality specifications used in Pratt & Whitney’s current turbomachinery components. The tests are being conducted at NDTL’s world-class turbomachinery test facility in South Bend, Indiana. After completion of the initial testing, where the IBR met 100% of all design, speed and pressure ratio test points, the current test program looks at low and high cycle fatigue characteristics of the IBR. Testing will include multiple acceleration/deceleration cycles and investigate synchronous vibration effects on the additively m

Hansol Paper and Iconex Announce Mutual Decision to Withdraw from Agreement Governing Sale of Schades and R+S to Iconex18.6.2019 11:00:00 EESTTiedote

Iconex and Hansol Paper announced today that the companies are withdrawing from their definitive agreement signed November 2, 2018, under which Iconex would have acquired Schades and R+S from Hansol Paper. This decision, reached by mutual agreement between the parties, is due to the ruling of The United Kingdom’s Competition and Markets Authority (CMA) to move the approval process for this transaction to Phase 2. This allows the UK CMA an additional six months to reach a decision, which was deemed to be too long of a delay by both parties. The parties believe that the proposed transaction met the relevant legal criteria for approval in the UK, and that it was in the best interests of our customers, employees and the marketplace in the United Kingdom and beyond. This UK CMA decision was unexpected by both parties given that the European Commission cleared the deal earlier this spring. Like elsewhere in Europe, the UK market is highly competitive with a significant number of players. “Th

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme