Nationale Suisse seizes non life insurance portfolios

The Basel insurer Nationale Suisse has purchased the fire and miscellaneous risks portfolio of the Spanish group Asefa. During the past year, these classes of business generated a premium volume of 21 million EUR (29 million USD).

The portfolios will be integrated into the activities of Nationale Suisse Spain and their development will be maintained. This acquisition allows the Swiss insurer to strengthen its position in Spain, while expanding its network of brokers and agents.
The transaction, whose amount has not been disclosed, is subject to authorities’ approval.