Tuesday September 23, 2014 Search
Weather | Athens
33o C
20o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Allianz in talks to buy Agrotiki Insurance

Allianz SE, Europe’s largest insurer, and Munich Re’s primary insurance unit Ergo Versicherungsgruppe AG are in talks to buy Agrotiki Insurance from Greece’s Piraeus Bank SA, according to three people familiar with the matter.

The price of Agrotiki, also known as ATE Insurance, is estimated at 60 million to 80 million euros, according to one of the people, who asked not to be identified because the talks are private.

Piraeus, Greece’s second-biggest bank by assets, raised 1.75 billion euros from foreign investors in March, after a stress test conducted by the country’s central bank identified a capital shortfall of 425 million euros.

It also sold 500 million euros of three-year bonds on March 18 in the first public debt sale from a Greek lender since 2009.

Greece’s central bank said in March that banks needed to boost their capital by 6.38 billion euros following six years of recession and the country’s financial crisis.

The deal could close at the end of this month.

ATE Insurance’s net revenue last year was 39.5 million euros, up from 26.5 million euros the year before.

[Bloomberg]

ekathimerini.com , Tuesday June 17, 2014 (21:34)  
Troika visit as scheduled, ministry says
Greek yields hit one-month high as Samaras looks to exit bailout
Construction material costs for new residential buildings decrease
German bond gains push 10-Year yield below 1% on stimulus bets
Greek MP says he’d withdraw cash if coalition were to fall
Ex-Health Minister Adonis Georgiadis stoked controversy on Tuesday when he said that he would withdraw his money from Greek banks if the coalition collapses. Speaking on a morning show on Me...
Widower, 83, to be charged for claiming dead wife´s pension
An 83-year-old man is to stand trial for fraud after it emerged that he had been illegally claiming his dead wife’s pension for more than a decade. The police said on Tuesday that the unname...
Inside News
SOCCER
Santos appointed Portugal manager
Fernando Santos, who led Greece to the last 16 of the World Cup in Brazil, has been appointed Portugal's new head coach, the FPF announced on Tuesday. "Fernando Santos, 59, is the new nation...
SOCCER
PAOK joins Olympiakos on top after win at Agrinio
Olympiakos spent just two nights alone on top of the Super League, as on Monday evening PAOK joined the champions on 10 points through its 1-0 victory at Panetolikos. The Thessaloniki giant ...
Inside Sports
COMMENTARY
A painful curse
It was a curse and a painful one at that. It was a brutal act that brings shame on the person who committed it, on the party which he represents, on the Parliament, on Greece and on everythi...
EDITORIAL
Europe’s choice
Tuesday’s meeting between Greek Prime Minister Antonis Samaras and German Chancellor Angela Merkel in Berlin is of crucial importance. It’s hard to deny that Greece has come a long way. The ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek MP says he’d withdraw cash if coalition were to fall
2. Widower, 83, to be charged for claiming dead wife´s pension
3. Amphipolis builders ‘took measures against tomb raiders’
4. Minor collared in Corinth over 10 tons of stolen lemons
5. Woman killed in horrific road accident near Thessaloniki
6. Santos appointed Portugal manager
more news
Today
This Week
1. Trolley bus, metro services to be disrupted Tuesday, Wednesday
2. Venizelos meets American Jewish officials in New York
3. Supreme Court postpones decision on Finance Ministry cleaning staff
4. German bond gains push 10-Year yield below 1% on stimulus bets
5. Construction material costs for new residential buildings decrease
6. Greek yields hit one-month high as Samaras looks to exit bailout
Today
This Week
1. ‘Greece can meet its needs on its own’
2. Greece at bottom of social justice scale among EU28
3. Central Athens traffic restrictions back in force on Monday
4. Record sum of new debts to the state in August
5. Lost in the fog
6. Alexander the Great's tomb not at Amphipolis, says Culture Minister
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.