Athora Holding Ltd. to Acquire Generali Belgium S.A.
Athora Holding Ltd. (together with its subsidiaries, “Athora”) announced today that it will acquire Generali Belgium S.A. (“Generali Belgium”), the Belgium-based subsidiary of international insurance group Assicurazioni Generali S.p.A. Cash consideration for the transaction will be approximately €540 million.
Generali Belgium is today the 11th largest insurer in Belgium providing a broad set of insurance solutions to retail and corporate clients through a network of over 1,000 independent brokers. The company serves the Belgian market with a comprehensive product set including single and recurring premium savings; pension and unit-linked life products; motor, homeowners and renters non-life coverage. Generali Belgium has approximately 420,000 customers served by 430 team members, had total gross written premiums of over €640 million in 2017, and total assets of €5.3 billion. The transaction is expected to close in the second half of 2018, subject to regulatory approvals.
Michele Bareggi, Group Managing Partner at Athora stated: “Since our successful capital raise in April 2017, we have been rapidly expanding our presence in Europe. In addition to launching our business with the acquisitions of Delta Lloyd Lebensversicherung in 2015 and Aegon Ireland earlier this month, this transaction is another major step toward our goal of becoming the premier European insurance consolidator and life reinsurance partner. Belgium is a target market for Athora, where we plan to deploy substantial capital over the next few years, and Generali Belgium is a perfect fit for our strategy and growth plans in the country.”
In April 2017, Athora received binding subscriptions through a private placement of common equity securities. The offering involved subscriptions representing approximately €2.2 billion from global institutional investors and is intended to support its existing business lines and capital and reinsurance transactions in the European insurance market.
With the acquisition of Generali Belgium, its strong management team, and solid market positioning, Athora will acquire a platform for consolidation in Belgium whilst focusing on the development of the company’s retail life and non-life business lines, and the aggregation of traditional life books.
Mr. Bareggi continued, “We see tremendous opportunities within Belgium to assist insurers in addressing challenges in their businesses through our share capital and reinsurance solutions.”
The acquisition of Generali Belgium is Athora’s first purchase of a non-life business, but builds on a strong non-life track record of Athora’s strategic partner and investor, Apollo Global Management LLC (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”). Apollo’s current non-life investments include Tranquilidade (Portugal), Amissima (Italy), and Catalina Holdings (Americas and Europe).
Goldman Sachs International and Mediobanca served as financial advisors and Allen & Overy served as legal counsel to Athora.
About Athora Holding Ltd.
Athora, through its subsidiaries, is a specialist solutions provider in the European insurance 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 Athene Lebensversicherung AG, located in Wiesbaden, Germany, Aegon Ireland plc, located in Dublin, Ireland, and Athora Life Re, a Bermuda-domiciled reinsurer. The Athora group has over 400 employees, 300,000 policyholders, and total consolidated assets of approximately €10 billion. For more information see www.athora.com.
Athora Media Contacts
All markets except Germany and Benelux:
Group Head of Corporate Affairs
+353 1 688 0357
+32 2 227 53 08
+49 69 921 874 26
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
IFF Recognized by SAM’s 2019 “Industry Mover” Sustainability Award16.2.2019 00:15:00 | Tiedote
Regulatory News: International Flavors & Fragrances Inc. (NYSE: IFF) (Euronext Paris: IFF) (TASE: IFF), was recognized for its sustainability efforts with the 2019 “Industry Mover” award from SAM, a subsidiary of RobecoSAM which specializes in providing environmental, social and governance (ESG) data, benchmarks and ratings. The recognition acknowledges the Company’s top-scoring performance in economic, social and environmental categories. “We are thrilled to receive this award from SAM,” said Andreas Fibig, IFF Chairman & CEO. “Our sustainability efforts are not only a key enabler of our overall strategy, but also a true passion here at IFF -- and we place it at the forefront of everything we do. It is deeply gratifying to have our work and our people recognized for doing the right thing for the planet.” SAM’s 2019 scoring is based on its 2018 Corporate Sustainability Assessment. Using a weighted methodology, SAM evaluates companies for criteria such as: codes of business conduct, ope
SFL: strong financial position and results in 2018, consolidating the Group’s position as a prime player15.2.2019 21:01:00 | Tiedote
Regulatory News: The financial statements for the year ended 31 December 2018 were approved by the Board of Directors of Société Foncière Lyonnaise (Paris:FLY) on 15 February 2019 at a meeting chaired by Juan José Brugera. 2018 business indicators were very robust, with further underlying growth in rental income and historically high EPRA earnings. The portfolio's appraisal value and the Company's net asset value also continued to grow, attesting to SFL’s excellent positioning. The auditors have completed their audit of the annual financial information and are in the process of issuing their report. Consolidated data (€ millions) 2018 2017 Change Rental income 193.5 195.8 -1.2% Adjusted operating profit* 162.1 164.1 -1.2% Attributable net profit 351.6 685.3 - EPRA earnings 106.7 102.4 +4.1% * Operating profit before disposal gains and losses and fair value adjustments 31/12/2018 31/12/2017 Change Attributable equity 4,010 3,763 +6.6% Consolidated portfolio value excluding transfer cost
5 Happening Cultural Destinations to Visit in 201915.2.2019 13:11:00 | Tiedote
Hong Kong There’s never really a sleepy year to visit Hong Kong, but 2019 is particularly ripe for visitors. Spearheaded by the dynamic entrepreneur Adrian Cheng of K11 and New World Development, the rejuvenation of Tsim Sha Tsui harbourfront is just the starting point. The city’s iconic harbourside walkway, Avenue of Stars, has just received a much-awaited makeover that’s the brainchild of Cheng and visually conceived by James Corner, the landscape architect responsible for the High Line in New York. It sees the addition of design-driven rest areas, kiosks featuring homegrown brands, hand prints from Asian film stars and interactive digital elements. Featuring Hong Kong’s first wave energy demonstrator that produces electricity for the Avenue, the place is turned into one of the most sustainable promenades in Hong Kong. This is just one part of Cheng and his company’s grander urban revitalisation plan, Victoria Dockside, a new art and design district which will fully open in the third
ISAE-SUPAERO Launches a New MOOC about Flight Mechanics15.2.2019 12:36:00 | Tiedote
"ABC of Flight Mechanics: How Do Planes Fly?": a MOOC dedicated to flight mechanics. The notion of flight often defies our human terrestrial instincts. How does an airplane fly? How can a pilot maintain control? How high in the sky can an aircraft climb? How does a fighter pilot fly while spinning? This online course (available in English) will cover many topics, such as atmospheric physics and Newton's laws applied to aircraft, as well as propulsion forces and longitudinal stability the question of traction. The MOOC "ABC of Flight Mechanics" is aimed at general public with a specific level of scientific knowledge. Nevertheless, various levels of learning are available, thus it allows all students to take the course without needing to plenty understand the mathematical principles. Undergraduate students in aerospace engineering, trainees as well as novice and experienced pilots, journalists and professionals in the aeronautics domain (business, engineering, marketing, communications,
REPLY: Red Reply Wins the Oracle “Partner of the Year Autonomous” Award15.2.2019 12:30:00 | Tiedote
Red Reply, the Reply group company that specialises in the Oracle Cloud IaaS and PaaS platform has been named as Oracle “Partner of the Year: Autonomous.” The award recognises Red Reply for its work as an Oracle Cloud Managed Service Provider Partner in developing highly innovative projects using the Oracle Autonomous Database technology. Red Reply has launched a project aimed at re-engineering the Policy Enterprise DataWarehouse of Verti Assicurazioni, company operating in the online insurance sector, using the Oracle Cloud Autonomous DataWarehouse service. The Autonomous DataWarehouse is a cloud-based database that uses machine learning to eliminate manual labour in operations such as tuning, security, backups, updates and other routine activities. This selected Oracle solution is the only one of its kind capable of addressing aspects such as security, performance and high availability of data, using automatic update and tuning mechanisms, while maximising the protection of data in l
Posiflex showcases new Interactive Self-Service Kiosks and IoT Retail Product Innovations at EuroCIS 201915.2.2019 11:00:00 | Tiedote
The Posiflex Group — a synergy of world-leading POS, kiosk, and industrial computing technologies — will introduce its full product portfolio and latest innovations at EuroCIS, the leading trade fair for retail technology, from February 19th – 21st in Düsseldorf. With a product strategy focus on serviced IoT, the Posiflex Group will be displaying smart and connected retail solutions with fully-integrated middleware, RMS (Remote Monitoring System) and hardware. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190215005008/en/ Posiflex at EuroCIS Hall 9 / C42 (Graphic: Business Wire) “I am excited to introduce the Posiflex Group portfolio to the European market,” says Hans Peter Nüdling, the newly appointed Chief Strategy Officer for the Posiflex Group. “The Posiflex Group references the collective brands of the corporation, including Posiflex, Portwell and KIOSK Information Systems (KIOSK) – all under one corporate umbrella. As
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