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Danish insurer Tryg to buy Alka for $1.3 bln
December 4, 2017 / 6:20 AM / 10 days ago

Danish insurer Tryg to buy Alka for $1.3 bln

Dec 4 (Reuters) - Denmark’s largest insurance company Tryg said on Monday it agreed to buy unlisted competitor Alka Forsikring for 8.2 billion Danish crowns ($1.31 billion).

“The acquisition of Alka complements and strengthens Tryg’s position and distribution presence in the Danish private market, Tryg’s core market segment,” it said in a statement.

The total deal value includes excess capital of 2.5 billion crowns, resulting in a valuation for the operations of Alka of 5.7 billion crowns, Tryg added. ($1 = 6.2692 Danish crowns) (Reporting by Thyagaraju Adinarayan in Gdynia; Editing by Stephen Coates)

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