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The ERGO Insurance Group has acquired Credit Europe Insurance; FSA approves the transaction

20 Jul 2016

According to AGERPRES, the data presented on Tuesday in a press release of the Credit Europe Insurance, show that ERGO Group Insurance acquired Credit Europe Insurance (CEI), the transaction was completed after receiving the final approval from the Financial Supervisory Authority (FSA) on 19 July 2016, but the parties have agreed that the purchase price should not be disclosed.

"The process of approving the transaction has started in December 2015. This acquisition provides full presence of the ERGO Group on the life and general insurance market and in Romania. The company will operate under the ERGO brand after the rebranding will be completed. All insurance policies shall remain in full force and will pass under the ERGO brand with all the rights and obligations unchanged", is included in the press release.

For more information, please see the Romanian version of the article, here.