Talanx in EUR180mn Chile move

German insurance group Talanx will become a top five non-life
Chilean insurer if it completes a deal announced today (19
December) to acquire Inversiones Magallanes.
Under the terms, it will pay a handsome premium of EUR180mn for
a business that had circa EUR9mn of earnings in 2013 and EUR60mn of
capital.
Talanx - the largest shareholder in reinsurer Hannover Re - has
reached agreement with the 70 percent shareholder in Inversiones
Magallanes and is making a tender offer to the...