The Hartford has completed the previously announced sale of its Dutch subsidiary Zwolsche Algemeene to AGF, the French arm of Germany’s Allianz, for €599 million ($551 million).
Zwolsche wrote €383 million ($352 million )in gross premiums in 1999, and will add considerable strength to Allianz/AGF’s position in the Dutch p/c market.
When grouped with Royal Nederland, also an AGF subsidiary, the company will become the third largest p/c insurer in the Netherlands, and will also increase the size of its life and health business and its asset management operations.
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