Helvetia announced on 6 February 2015 that it was selling its Belgian subsidiary Nationale Suisse Belgium and the latter’s two specialist underwriting agencies Vander Haeghen & C° and Arena to Enstar Group. This transaction has now been completed. The restructuring measures it entails for Nationale Suisse Belgium will be implemented with the aid of an agreed social plan.
Nationale Suisse Belgium and its two underwriting agencies belonged to the Nationale Suisse Group, which became part of the Helvetia Group in October 2014. The three companies that have now been sold generated more than 70% of Nationale Suisse’s premium volume in Belgium. The total sale price was EUR32.8million.
With the completion of this transaction and the prior sale of L’Européenne’s travel insurance portfolio to Mapfre Asistencia, Helvetia has now concluded its withdrawal from the Belgian market. However, Helvetia will continue to write art insurance business in Belgium via its subsidiary in Liechtenstein.
This media release is also available on our website www.helvetia.com/media