Den norske Bank re-Vitalises bidding war

Article Abstract:

Industry observers are surprised that Den norske Bank (DnB) of Norway has made such a high bid of 110 Norwegian Krona cash per share for life insurer Vital Forsikring of Norway. The offer competes with the previous offer of 103 Norwegian Krona per share made by insurer Aegon of the Netherlands. DnB's bid values Vital Forsikring at 2.96 billion Norwegian Krona, while Aegon's bid values the company at 2.7 billion Norwegian Krona. Some analysts expect Aegon to increase its bid up to a maximum of 120 Norwegian Krona. Life insurance customers in Norway are easily able to transfer between insurance companies.

AEGON N.V., Den Norske Bank A/S, Vital Forsikring A/S

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Increasing stock

Article Abstract:

Cesko-rakouska pojistovna (CRP) (Czech Republic), insurance company, will increase its stock to 400 mil Kc in 1998. At the end of 1997 CRP raised its stock to 305 mil Kc. CRP saw prescribed premiums of 508.84 mil Kc in 1997, 0.64% more compared to 1996. The company has a 1.08% share on the domestic market, controlling 1.39% of the life-insurance market. In 1997 CRP paid 35 mil Kc on compensations for flood damages. CRP is a wholly- owned subsidiary of insurance company Bundeslaender (Austria), which is a part of Austria's largest holding insurance company, BARC (Austria).

Comment:

Insurance company will increase its stock to 400 mil Kc in 1998

Czech Republic, Securities issued, listed, Article, Cesko-rakouska Pojistovna

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The long haul in UK insurance M&A starts here

Article Abstract:

There is a need for consolidation amongst life insurers in the UK, following news that General Accident is in bid negotiations with Provident Mutual Life Assurance Association. Expenses have risen considerably over the past 10 years and much of the business is loss-making. There are currently about 200 life companies writing business in the UK and this could eventually reduced to just 20, according to an insurance analyst at James Capel.

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