Munich Re to sell Karlsruher Insurance Group to Württembergische Leben
10/10/2005
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Munich Re and Württembergische Leben have agreed on the sale of the Karlsruher Insurance Group. As a result, Munich Re will sell its 90 %-plus stake in Karlsruher Leben to Württembergische Leben. The Karlsruher Insurance Group's parent company also controls Karlsruher Hinterbliebenenkasse and a property insurance group consisting of Karlsruher Versicherung, Karlsruher Beamten-Versicherung and Karlsruher Rechtsschutzversicherung. Both sides have agreed to maintain silence regarding the purchase price.
For Munich Re, the aim was to find a future-oriented solution for all parties concerned. The overall concept of the offer made by Württembergische Leben was convincing. With this new partnership between Württembergische Leben and Karlsruher Leben, a new group emerges which, by combining the shared strengths of the two companies, has a greater competitive edge and thus advances to Germany's top ten insurers both in life and in property-casualty business.
Münchener Rückversicherungs-Gesellschaft
signed Dr. Hasford signed Küppers
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