Groupama Sells Segment Of Gan Eurocourtage to Allianz - CEO
08 June 2012 - 5:03PM
Dow Jones News
By Inti Landauro
PARIS--French insurance company Groupama SA has sold the
brokerage-related activities of its Gan Eurocourtage insurance unit
to German insurer Allianz SE (ALV.XE), Groupama's chief executive,
Thierry Martel, said Friday.
"This [the sale] is a very good operation for Groupama as it is
part of a program to strengthen solvency, as through this cession
we strengthen Groupama's shareholders' funds, we raise its
liquidity and the financial flexibility," Martel said in an
interview with local radio station Radio Classique.
Groupama sold the property and casualty brokerage-related
activities of Gan Eurocourtage. The transaction excludes
transport-related business.
Groupama expects to close the transaction during the fourth
quarter of 2012.
-Write to Inti Landauro at inti.landauro@dowjones.com