PMR Online access    |   tel. +48 12 340 51 00    |   E-mail: info@pmrcorporate.com
 


 

Talanx AG gets KNF clearance for Warta acquisition


2012-05-23



The Financial Supervisory Commission (KNF) on 22 May gave its approval for Talanx, the German insurance group, and its Japanese partner Meiji Yasuda Life Insurance to acquire TUiR Warta, Poland’s number two insurer, from KBC of Belgium.

In a statement, the Commission said Talanx has offered several commitments to win regulatory approval, concerning matters such as financial support, dividend policy, corporate governance, active involvement in helping Warta comply with Solvency II regulations, maintaining the company’s seat in Poland for at least three years following the completion of the deal, and a dual listing of Talanx AG on the Warsaw Stock Exchange within two years, on the assumption that the German group will float on the Frankfurt bourse later this year.

Talanx says the acquisition of Warta will allow it to participate to a much greater extent in the development of Poland’s highly dynamic insurance market and that it intends to invest further in the business. For KBC the transaction is part of an asset-disposal programme agreed with the European Commission to repay state aid received from the Belgian government.

Earlier this month Talanx won KNF approval for its takeover of TU Europa.



Browse and search in our archive »


subscribe to PMR RSS NEWS channelsSubscribe to PMR RSS NEWS channels »




Free monthly e-letter containing latest news, analyses and business information on economic situation in Poland, Russia, Bulgaria, Czech Republic, Hungary, Romania, Slovakia, Ukraine, Kazakhstan.
Relevant news
 

Useful links         Privacy Policy
Copyright © 2018 PMR. All rights reserved.

PMR is a British-American company providing market information, advice and services to international businesses interested in Central and Eastern Europe as well as other emerging markets. PMR key areas of operation include business publications (through PMR Publications), consultancy (through PMR Consulting) and market research (through PMR Research). With over fourteen years of experience, high international standards in projects and publications, highly skilled multilingual staff and a wide network of co-operating research companies and market experts, PMR is one of the largest companies of its type in the region.