Insurer Eureko has sold its French operating company, Imperio Assurances et Capitalisation to ESCA, a life insurer.
The transaction is subject to final approval by the French competition authorities and the French insurance regulator.
ESCA believes that it will benefit from Imperio’s technical and reporting capabilities. The employment contracts of Imperio’s personnel will not be affected.
PricewaterhouseCoopers Corporate Finance acted as the lead advisor to Eureko on this transaction.
Maarten Dijkshoorn, chairman and CEO of Eureko, said: We are very pleased with the outcome of this transaction as it provides a better scenario for the future for all concerned.