Czech broker Renomia expands through IMG acquisition
Renomia, one of the largest Czech insurance providers, is merging with IMG to surpass Kč 10 billion (€ 391 million) in terms of administered premiums.
Renomia provides services in the field of insurance and financial consulting through branches in six European countries and, through partners, elsewhere in the world.
Renomia has acquired a majority stake in IMG, which is in charge of administrating a product volume of Kč 400 million.
Renomia said that the deal is the largest acquisition in its twenty-five-year history.
The existing management and the entire IMG team will stay with the group and both brands will be used in the future, according to the company.
According to the company, the combined business will employ a total of 1,500 financial experts and 250 consultants.
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