Zurich Closes Acquisition of 50% Stake in Spain’s Caixa Sabadell

Zurich Financial Services Group announced that it has completed the acquisition of a 50 percent stake in Spain’s Caixa d’Estalvis de Sabadell’s (Caixa Sabadell) life and general insurance companies, CaixaSabadell Vida, S.A. de Seguros y Reaseguros and CaixaSabadell Companyia d’Assegurances Generals, S.A.

Zurich formalized its acquisition plans in July [See IJ web site – https://www.insurancejournal.com/news/international/2008/07/11/91809.htm]. The deal was first announced in April [See IJ web site – https://www.insurancejournal.com/news/international/2008/04/24/89423.htm].

“The transaction enables Zurich to combine the strong distribution capacity of Caixa Sabadell with Zurich’s proposition strengths and pan-European operating platform,” said the announcement.

Source: Zurich – www.zurich.com

Topics Mergers & Acquisitions