The German Talanx AG and its Japanese partner Meiji Yasuda Life Insurance Company are entering into a long-term, strategic bancassurance cooperation with the Getin Holding Group. As part of the agreement, Talanx and Meiji Yasuda will take over the insurance company Europa Group. For Europa, the transaction offers the possibility for further dynamic growth behind the potential of the new strategic shareholders – both Talanx and Meiji Yasuda are well known players on the global insurance market.
This transaction will substantially strengthen Europa’s position on the Polish insurance market. It is also a great news for the company’s Clients and Business Partners. Talanx and Meiji Yasuda will support Europa with their international experience and strong capital. The Company will continue the cooperation with its present Business Partners in the current flexible way and it will sustain the high level of service for the Clients, offering them innovative products that answer their needs. At the same time, Europa Group will keep its focus on the bancassurance market.
On top, Europa will reinforce its position on the Polish insurance market thanks to taking over the majority stake in the Open Life Towarzystwo Ubezpieczeń na Życie SA. After closing the transaction, Europa Group will consist of: TU Europa SA (non-life), TUnŻ Europa SA (life), Open Life TUnŻ SA (life).
The long-term cooperation agreements between Europa Group, Getin Noble Bank, Idea Bank and other companies from the Getin Holding Group are the guarantee of the sales of Europa products to the Clients of these institutions. As a bancassurance market leader, Europa will continue offering its products via banks and other financial companies including the sales network of Open Finance, which is the other owner of Open Life, taken over by Europa Group.
About Meiji Yasuda Life Insurance Company
Meiji Yasuda is Japan’s second largest life insurer in terms of premium income and leading bancassurance specialist, with more than 130 years’ history in the insurance industry. It offers individual life and annuities, group life and pensions, and investment products as well as medical and accident coverage. The company has operations in Asia, Europe, and North America. The Tokyo-based company posted a premium income of 3,943 billion yen (€ 33 billion) in the fiscal year 2010.
With premium income of some € 23 billion for 2010, the Talanx Group is Germany’s third-largest insurance group and Europe’s eleventh biggest European insurance group. Talanx operates as a multi-brand provider. Its brands include HDI, HDI-Gerling, Hannover Re, one of the world’s leading reinsurers, Targo Insurers, PB Insurers, Neue Leben and financial services provider AmpegaGerling. The Hannover-based Group is active in 150 countries. The rating agency Standard & Poor's has given the Talanx primary insurance group a financial strength rating of A+/stable (strong) and the Hannover Re Group a rating of AA-/stable (very strong).
Link to the public tender offer: http://www.gpwinfostrefa.pl/palio/html.run?_Instance=cms_gpw.pap.pl&_PageID=2&_OID=43&_Lang=pl&_RowID=2011569&category=31,32,33,35,5,6,7,10,9,8,15,41,18,13,42,16,43,14,44,17,45,11,36,47,48,58,59,54,55,56,57,73,74&_CheckSum=-1027875020