Augur Capital to buy Ageas' German life insurance division

The acquisition will also include Beteiligungskonzept GmbH and its subsidiaries. Ageas is most likely going to record a capital loss through the transaction. Financial details of the deal were not disclosed.

The transaction is subject to regulatory approval. It is planned to close by the end of the year.

Equity was sourced from FIS Financial Opportunities II SICAV fund, which recently closed on €212m.

Company
Ageas Deutschland Lebensversicherung AG was originally part of Fortis Deutschland Lebensversicherung AG. Ageas Insurance International was carved out from Fortis during the break-up of the company due to the financial crisis in 2008. The company distributes its products through banks, brokers and partnerships. In 2010, the premium income amounted to €45m with a solvency ratio of 305% at the end of the year. Ageas Deutschland Lebensversicherung AG is based in Göttingen.

People
Steven Braekeveldt is CEO of continental Europe for Ageas.

Advisers
Vendor - Allen&Overly, Matthias Horn, Michael Brellochs, Asmus Mihm, Joachim Lehnhardt (Legal).

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• Topics
• DACH
• Buyouts
• Financials
• Augur Capital