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Media release
Group News

Nationale Suisse to sell Belgian travel insurance portfolio

Nationale Suisse is selling the travel insurance portfolio of its Belgian subsidiary L'Européenne to Mapfre Asistencia, thus completing its announced withdrawal from the direct insurance market in Belgium.
Nationale Suisse is selling the travel insurance portfolio of its Belgian subsidiary L'Européenne (Compagnie Européenne d'Assurance des Marchandises et des Bagages S.A, Brussels) to Mapfre Asistencia, a company of the Spanish Mapfre insurance group. With premiums of EUR 25 million, the portfolio generates about 30 percent of the premium volume of Nationale Suisse in Belgium. As part of the transaction, Mapfre Asistencia will be taking over the 16 employees assigned to the travel insurance portfolio. Subject to the approval of the authorities, the transaction will be completed by means of a portfolio transfer in the first half of 2015. The parties have agreed not to disclose the purchase price.

Withdrawal from Belgium completed
With the previously announced sale of the subsidiary Nationale Suisse Belgium together with its two underwriting agencies Vander Haeghen & C° and Arena to the Enstar Group, the sale of L'Européenne’s travel insurance portfolio marks the completion of Nationale Suisse’s withdrawal from the Belgian direct insurance market.

Nationale Suisse will continue to underwrite art risks in Belgium via its Liechtenstein-based subsidiary in future.

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Helvetia Group
Susanne Tengler
Director Investor Relations
Dufourstrasse 40
CH-9001 St.Gallen

Phone: +41 58 280 57 79
Fax: +41 58 280 55 89
Helvetia Group
Martin Nellen
Head Corporate Communications
and Brand Management
Dufourstrasse 40
CH-9001 St.Gallen

Phone: +41 58 280 56 88
Fax: +41 58 280 55 89
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