Italian supervisory authority approves sale of DKV Salute to RBHold
2011/07/07
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The Italian supervisory authority (ISVAP) has approved the transfer of ownership of Munich Re subsidiary DKV Salute to RBHold S.p.A. Group with effect from 1 July 2011. DKV Salute started operations as a specialised health insurer in Italy on
1 January 2008.
As part of a strategic partnership between Munich Health (Munich Re´s international healthcare division) and RBHold S.p.A., the sale aims to fully exploit the potential of the Italian healthcare market.
Both sides have agreed to maintain silence regarding the purchase price.
Background
Munich Health: Under the single brand Munich Health, Munich Re has brought together its global healthcare know-how in insurance and reinsurance. More than 5,000 experts at 26 locations worldwide benefit from the resulting synergy potentials as they devise innovative healthcare solutions for clients and partners all over the world.
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. Munich Re creates value for clients, shareholders and staff alike. In the financial year 2010, the Group – which pursues an integrated business model consisting of insurance and reinsurance – achieved a profit of €2.4bn on premium income of around €46bn.
DKV Salute S.p.A. S.p.A. is an Italian primary insurance company founded in 2008 that specialises in the healthcare and personal accident sectors. Currently, DKV Salute is one of Italy’s major healthcare operators, with a range of products and services dedicated to healthcare funds and healthcare schemes.
RBHOLD S.p.A. Group is an Italian undertaking whose mission is to aggregate strategic participations in outsourcing and consulting services for the welfare sector. In particular, RBHold has specific interests in the healthcare, pension, insurance and financial sectors.
This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.