German holding and insurance company Talanx has sold its subsidiaries in Bulgaria and Ukraine to Euroins, a Bulgarian insurance group.The aim is to streamline the company’s portfolio in Eastern Europe, German news websites report. No price tag is mentioned, though a “single-digit million deal” (in EUR) is suggested by most sources. As of 2013 the two Talanx units, HDI Zastrahovane AD (Bulgaria) and HDI Strakhuvanya (Ukraine), had generated gross premium income of EUR 13 M and EUR 16 M respectively.The deal requires regulatory approval from both Bulgarian and German watchdogs and is expected to be finalized sometime in Q2, 2015, …read more
Source: Novinite
