KBC today finalised the sale of reinsurance company Secura NV to the QBE Insurance Group, as announced on 5 July 2010. The sale price amounts to €267 million plus gains realised on the investment portfolio and earnings for 2010 up to the completion date. The capital release amounts to €139 million, based on an estimate of the gains and profit for the year.
With effect from today, the parental guarantees provided by KBC Insurance to Secura NV has been terminated. New and renewal insurance contracts will now be guaranteed by QBE International Holdings (UK) plc.
Johan Thijs, CEO of
With effect from today, the parental guarantees provided by KBC Insurance to Secura NV has been terminated. New and renewal insurance contracts will now be guaranteed by QBE International Holdings (UK) plc.
Johan Thijs, CEO of
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