Fortis sell American insurance branch (video)
Spent: 25 September 2003 15.45 last modified:
25 September 2003 16.27 UTRECHT - Fortis sell its insurance
activities in the United States because these no longer under the most
important points of interest of the concern fall. The bank
insurer brings its insurance branch in the US firstly to grant,
whereupon all shares ' gradually ' are sold. The floatation in
New York will take place probably in 2004, thus Fortis Thursday.
The exact time lets depend to the financial concern on the
market circumstances. ' we have no haste ', thus Fortis-topman
A. van Rossum. He said that the concern will wait to the shares
against a good price is able be sold. The American insurance
leg, which operates already ten years independently, grant will go up
under the name Assurant. With these for the takes off Fortis an
important income source the door. She got in last year wide
eenderde of the turnover of the verzekeringsdivisie. In first
half of 2003 the component 11 took per cent of the operational profit
of the whole concern at its expense. At the American insurer
12,000 people work. Van Rossum said in an explanation that the
divisie is sold because the concern cannot do ' everything everywhere
'. ' and it has no strategic starting points with our other
activities.' Fortis sell among others Medical Insurances,
funeral insurance in the US and are active in the field of risk
management. An analyst reacted astonished, because extensive for
the with good profit figures of the hand does Fortis. Van Rossum
says that sell it correctly malignant for the now she is well
rendeert. The concern remains in America, however, active as a
banker. According to first analyst estimates sale at least 2.5
billion will produce euro. Fortis will use the turnover to
reinforce the Netherlands, Belgium and Luxembourg its position in.
Also the concern wants put extra money in components with which
it runs in front on the competition. According to Van Rossum
Fortis will orient themselves as of now more geographically. The
company looks at from the hoofdkwartier with which components can
score it also outside the benelux. ' that does not means
therefore that we withdraw our behind the walls of the benelux ', thus
the top man. He could not indicate if components soon more are
ricocheted. However, said he that Fortis a more slim company
must become. Fortis-directie look at already some months
critically to all dochterbedrijven. Year earlier this was
already confessed that the chique banker Theodoor Gilissen move over
to the credit bank Luxembourg (KBL). Also the
grenswisselkantoren (GWK's) are ricocheted. (c) DUTCH PRESS
AGENCY
Source "Fortis sells American insurance branch (video)": nu.nl
Head sells American insurance branch (video) to index page
of "Fortis"
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