Germany's third-largest insurer Talanx has sold off its operations in Bulgaria and Ukraine to Bulgarian insurance group Euroins.
The companies will be sold in middle single-digit million euro range as part of Talanx’s strategy to streamline its portfolio in Eastern Europe in the retail international division.
The Bulgarian company, HDI Zastrahovane, has gross premium income of €13 million, while the Ukrainian operation has gross premium income €16 million. The cumulative EBIT of the two companies was around one million euros in the business year 2013.