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KBC Bank Deutschland AG Wachtstraße 16 28195 Bremen, Germany http://www.kbcbank.de
Contact Mr Wim Allegaert +32 2 429 40 51
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KBC Bank Deutschland AG

KBC Group closes sale of Secura NV to QBE

(PresseBox) (Brussels, )
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.

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The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.