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M&A Deal Summary

Swiss Reinsurance Co. Acquires TTK Healthcare TPA Pvt.

On February 1, 2007, Swiss Reinsurance Co. acquired insurance company TTK Healthcare TPA Pvt. from True North Co.

Acquisition Highlights
  • This is Swiss Reinsurance Co.’s 3rd transaction in the Insurance sector.
  • This is Swiss Reinsurance Co.’s 1st transaction in India.

M&A Deal Summary
Date 2007-02-01
Target TTK Healthcare TPA Pvt.
Sector Insurance
Buyer(s) Swiss Reinsurance Co.
Sellers(s) True North Co.
Deal Type Add-on Acquisition

Target

TTK Healthcare TPA Pvt.

Bengaluru, India
TTK Healthcare TPA Pvt. Ltd. is a licensed third-party healthcare administrator (TPA) based in Bengaluru, administering health insurance policies. TTK was rated amongst the top three TPAs in India. It was performing multiple activities like enrollment, pre-authorization, claims processing and adjudication and finance for health insurance companies. All claims processing worked on a distributed model to maintain high quality standard and quick response time to beneficiaries.

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Buyer(S) 1

Buyer

Swiss Reinsurance Co.

Zurich, Switzerland
Category Company
Founded 1863
Sector Insurance
Employees11,622
DESCRIPTION

Swiss Reinsurance Company Ltd, generally known as Swiss Re, is a Swiss reinsurance company. It is the world’s second-largest reinsurer, after having acquired GE Insurance Solutions.

DEAL STATS #
Overall 3 of 6
Sector: Insurance M&A 3 of 5
Type: Add-on Acquisition M&A Deals 3 of 5
Country: India M&A 1 of 1
Year: 2007 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-10 Fox-Pitt Kelton Cochran Caronia Waller

Chicago, Illinois, United States

Founded in 1971, Fox-Pitt is a financial services provider.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-03 Global Asset Protection Services

Chicago, Illinois, United States

Global Asset Protection Services, LLC provides insurance services.We know about risk. And we can help you manage it. Our clients look to us for support, security and intelligent risk management.

Sell -

Seller(S) 1

SELLER

True North Co.

Mumbai, India

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

True North Co. is a private equity firm focused on making investments in growing middle-market companies operating in India. The Firm looks to invest a minimum of $50 million per transaction. Sectors of interest include consumer, healthcare, financial services, infrastructure services, and IT. True North does not invest in start-ups or early-stage companies. True North Co. was formed in 1999 and is headquartered in Mumbai.

DEAL STATS #
Overall 4 of 22
Sector: Insurance M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 13
Country: India M&A 4 of 19
Year: 2007 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-01 Meru Cabs

Mumbai, India

Meru Cabs provides metered radio taxi services in Mumbai, Delhi, Hyderabad, and Bengaluru. Meru with 5,000+ cabs is the major taxi company of its kind in India and the 3rd largest in the world. Meru Cabs was founded in 2000 and is based in Mumbai, Maharashtra.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-26 HDFC Bank

Mumbai, India

HDFC Bank is a private sector banks. HDFC Bank offers a wide range of commercial and transactional banking services and treasury products to wholesale and retail customers. HDFC Bank was founded in 1994 and is based in Mumbai, Maharashtra.

Buy -
Mergr

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