Friday March 27, 2015 Search
Weather | Athens
14o C
09o 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)  
Bank accounts continue to bleed
Hania and Athens are the top picks for Easter visitors
Landlords to pay tax on unpaid rent
Air arrivals grow 20 pct in Jan-Feb 2015
Defense minister Kammenos sues commentator for 1 mln euros
Defense Minister Panos Kammenos has sued commentator Andreas Petroulakis for 1 million euros in damages over a critical article posted on the Protagon website on March 17. In a statement pos...
Reform talks move to Brussels
The Brussels Group, technical teams from Greece and its lenders, is on Saturday due to begin discussing the details of Athens reform proposals, which were completed Friday and will determine...
Inside News
SOCCER
Greek federation backs injured Holebas
The Greek soccer federation on Friday insisted that international defender Jose Holebas had been dropped from team training in Austria because of injury and not for any other reason. Media r...
SOCCER
AEK docked three points for fan violence
Greek second-division side AEK Athens on Friday was deducted three points by the Greek football federation for a pitch invasion by its fans earlier this month. The disciplinary committee of ...
Inside Sports
COMMENTARY
Time to get moving
More than two months have passed since the elections and the government has to stop running around in circles and adopt a program of specific reforms, with detailed calculations as to their ...
EDITORIAL
The same old story
One of those infamously bad practices that the political system has been accused of for years is being propagated by the new government today, as it is appointing party cadres and politician...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Bank accounts continue to bleed
2. Hania and Athens are the top picks for Easter visitors
3. Landlords to pay tax on unpaid rent
4. Air arrivals grow 20 pct in Jan-Feb 2015
5. Cash injection from state debtors
6. Defense minister Kammenos sues commentator for 1 mln euros
more news
Today
This Week
1. Greek future as trade hub in limbo amid Syriza split on railways
2. Greek gov't denies finance minister Varoufakis to resign [Update]
3. Bundesbank's Weidmann says euro zone debt in 'danger zone,' opposes more aid for Greece
4. New Democracy's political council convenes to decide line opposite gov't
5. Clocks go forward one hour on Sunday
6. Berlin says has no exact information about Greek reforms
Today
This Week
1. Next Monday is D-Day for state funds
2. Total victory is unattainable
3. EU asks Greece for more reforms to speed talks on bailout
4. PM faces Merkel amid race to detail reforms
5. Some more equal than others
6. New book by ex-US diplomat delves deeper into the recesses of Greek terrorism
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.