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Hanover-domiciled VHV Group is buying 78,000 shares in Nationale
Suisse which were held by the latter as treasury shares. With this
transaction, VHV Group and Nationale Suisse are entering into a
long-term strategic partnership, with a particular focus on niche
business. There will also be synergies in the fields of IT/backoffice
and direct marketing.
With the transaction, Nationale Suisse is realising the objective it
communicated in September 2008 of minimising its holding of treasury
shares by the end of the year. In a first concrete step, the
construction insurance line will be fronted on a mutual basis.
"VHV is the ideal partner for Nationale Suisse when it comes to
mutually driving forward the international expansion of our niche
business quickly and sustainably, particularly in the engineering
line of business but also in other specialty lines such as HNWI/Art
and marine insurance," says Dr. Hans Künzle, Chief Executive Officer
of Nationale Suisse.
Uwe Reuter, Chief Executive Officer of the VHV Group, continues:
"Especially in the construction and engineering lines of insurance
and in the direct insurance channels, both partners have outstanding
know-how which can be mutually leveraged." He adds: "Our entry into
this agreement is geared to establishing a long-term, prosperous
partnership that can be built upon. The agreement will enable us, in
an initial concrete step, to provide our Swiss clients in the
construction insurance line with advice and support."
About VHV Group
VHV Group came into being in 2003 as a result of the merger of the
traditional Hanover companies VHV Vereinigte Haftpflichtversicherung
VVaG and Hannoversche Lebensversicherung aG. With its two well-known
brands - VHV for proprietary and intermediary-based sales and
Hannoversche Leben for direct marketing - it is today one of
Germany's leading insurance companies. The Group specialises in the
construction and motor insurance lines, as well as in pensions
business. VHV Group employs 2,500 staff in the Federal Republic,
almost 2,000 of which work in the Hanover offices.
Brief profile
Nationale Suisse is an innovative, The headquarters of Swiss
international Swiss insurer providing National Insurance Company is
first-rate risk and pension solutions in Basel. Nationale Suisse is
and tailored niche products. The Group listed on the SWX Swiss
has gross premiums of CHF 1.87 Exchange (NATN). On 30 June
billion, one third of which come from 2008 the Group employed 1,847
their subsidiaries in Germany, persons (1,728 FTEs).
Belgium, Italy and Spain.
Downloads Disclaimer
You can access this media release on Swiss National Insurance
our website www.nationalesuisse.ch Company wishes to point out
under Medien/Medienmitteilung. that any forward-looking
Further information about the VHV statements in this report are
Group can be found under www.vhv.de. based on projections,
estimates and assumptions. The
influence of uncertain and
unforeseeable circumstances
and certain risks may mean
that actual performance
deviates significantly from
our expectations.
Information
Sophia Schor Nationale Suisse
Media relations Steinengraben 41
Tel. +41 61 275 23 86 4003 Basel
Fax +41 61 275 22 21 www.nationalesuisse.ch
sophia.schor@nationalesuisse.ch
Important dates
Publication of Annual Report 01.04.2009
Media conference to announce financial 01.04.2009
results at Hotel Park Hyatt, Zurich
Financial analysts' conference at 01.04.2009
Hotel Park Hyatt, Zurich
Annual General Meeting 18.05.2009
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Nationale Suisse
Steinengraben 41 Basel
WKN: 1081197; ISIN:
CH0010811971; Index: SMCI, SPI, SPIEX;
Listed: Main Market in SWX Swiss Exchange;
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