M&A Deal Summary

Gjensidige Forsikring ASA Acquires PZU Lietuva

On February 2, 2015, Gjensidige Forsikring ASA acquired insurance company PZU Lietuva from Powszechny Zakland Ubezpieczen S.A. for 54M EUR

Acquisition Highlights
  • This is Gjensidige Forsikring ASA’s 3rd transaction in the Insurance sector.
  • This is Gjensidige Forsikring ASA’s 3rd largest (disclosed) transaction.
  • This is Gjensidige Forsikring ASA’s 1st transaction in Lithuania.

M&A Deal Summary

Date 2015-02-02
Target PZU Lietuva
Sector Insurance
Buyer(s) Gjensidige Forsikring ASA
Sellers(s) Powszechny Zakland Ubezpieczen S.A.
Deal Type Divestiture
Deal Value 54M EUR

Target

PZU Lietuva

Vilnius, Lithuania
PZU Lietuva offers general insurance products primarily within the motor, property and personal lines in Lithuania. The company also has operations in Estonia and Latvia.

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Buyer(S) 1

Buyer

Gjensidige Forsikring ASA

Oslo, Norway

Category Company
Sector Insurance
Employees3,555
DESCRIPTION

Gjensidige Forsikring ASA are a Nordic general insurance company. Company also offer banking, pension and savings products in Norway. Gjensidige has provided insurance services for nearly 200 years.


DEAL STATS #
Overall 3 of 5
Sector (Insurance) 3 of 5
Type (Divestiture) 1 of 2
Country (Lithuania) 1 of 1
Year (2015) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-29 Hjelp24 AS

Oslo, Norway

Hjelp24 AS is a provider of corporate healthcare in Norway, and it has 40 offices across the country. The business is run under strong brand names, such as Hjelp24 and NIMI, and provides products to a diversified customer portfolio consisting of private customers and private and public enterprises. Hjelp24 covers the whole treatment chain from prevention and risk assessment to rehabilitation and return to work. The company is organized in four service areas; corporate health care services, private hospitals, emergency alarms and consulting.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-15 Gjensidige Marine and Energy Insurance A/S

Oslo, Norway

Gjensidige Marine and Energy Insurance A/S comprising mainly long-tail liability claims, providing it with valuable operational and economic finality.

Sell -

Seller(S) 1

SELLER

Powszechny Zakland Ubezpieczen S.A.

Warsaw, Poland

Category Company
Founded 1803
Sector Insurance
Employees16,100
DESCRIPTION

Powszechny Zak?ad Ubezpiecze? Spó?ka Akcyjna provides various insurance products for retail and corporate customers in Poland, Lithuania, and Ukraine. Its products include group and individual life, dowry, annuity, accident, unit-linked, property, motor, casualty, agricultural, and financial insurance products.


DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
Country (Lithuania) 1 of 1
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-15 Link4 Towarzystwo Ubezpieczeñ SA

Warsaw,, Poland

Link4 Towarzystwo Ubezpieczeñ SA is a provider of insurance services. Company offers motor, housing and tourist insurance to individual customers.

Buy -