BDO has advised Caser Seguros, a Spain-based company engaged in providing personal insurance policies, on the sale of 70% stake of the company to the Swiss insurance multinational company Helvetia.
Helvetia has reached an agreement with various shareholders with respect to
the sale of their equity stakes.
Caser is a leading insurer in Spain with revenues over EUR 1.6 billion and a strong focus on Non-Life Insurance. Caser was owned by several Spanish banks and French insurers.
Helvetia is a leading Swiss all-line insurer with a market cap of c. EUR 6.5 billion and presence across several European countries, including Spain.
With this acquisition the European business will be strengthened further as a second pillar, the attractive non-life business will be expanded significantly and the company’s distribution capabilities in Spain will be increased. With Caser, Helvetia will also be able to tap into new business models in the form of stable fee income from attractive eco-systems in the areas of health and old-age care.
Markus Gemperle, Caser President: “We begin with enthusiasm a new challenging period, in which I am sure that Caser will obtain great results within Helvetia Group”
Philipp Gmür, Group CEO of Helvetia "The acquisition of Caser perfectly fits Helvetia’s strategy. Our business in Spain has performed very well in recent years and will now be strengthened further by this transaction, which will also substantially increase the importance of our European activities. Both companies complement each other outstandingly, including from a cultural perspective. Caser will also immediately make a significant profit contribution."