Bloomberg News

Allianz, Axa Interested in Polish Insurer Warta, Parkiet Says

October 15, 2011

Oct. 15 (Bloomberg) -- Allianz SE, Talanx AG, Assicurazioni Generali SpA, Axa SA, Zurich Financial Services AG and NKSJ Holding Inc.’s Sompo Japan Insurance are interested in Poland’s No. 2 insurer Towarzystwo Ubezpieczen i Reasekuracji Warta SA, Parkiet reported, citing unnamed institution close to the transaction.

More than 10 companies received preliminary sale documents, called teasers, from KBC Groep NV, which is now awaiting price offerings, the newspaper said, adding that the sale may be completed no earlier than at the beginning of next year.

An unnamed foreign private equity fund is also interested in a Warta takeover, Parkiet reported, without citing anyone. Vienna Insurance Group AG said this month it is interested in the Polish insurer.

--Editor: Kim McLaughlin

To contact the reporter on this story: Monika Rozlal in Warsaw at mrozlal@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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