Baker & McKenzie Advises the Baloise Group on Its Acquisition of Avéro Schadeverzekering Benelux
Deal Announcement
20 July 2010
Brussels, 20 July 2010 - Baker & McKenzie has advised the Baloise Group on its acquisition of the insurance company “Avéro Schadeverzekering Benelux N.V.,” a subsidiary of the Dutch Eureko Group.
Headquartered in Basel, Switzerland, the Baloise Group is a European provider of insurance and pension solutions. It positions itself as an insurer with a smart prevention concept, the "Safety World." In Switzerland, the Group operates as a focused financial services provider, offering a combination of insurance and banking services. The Group also has a market presence in Germany, Austria, Belgium, Luxembourg, Liechtenstein, Croatia and Serbia. The sales network spans the Group's own sales organization, plus brokers and other partners. Baloise operates its innovative pension plan products business for private customers throughout Europe with its competence centres in Luxembourg and Liechtenstein.
Avéro is active in the nonlife sector and focuses primarily on the property and transport insurance areas. It holds a market share of 13% in the transport sector. It sells its products to more than 100,000 private and corporate customers exclusively via a network of brokers. In 2009, Avéro achieved a premium volume of 124 million euros. It has 177 employees.
The Baker & McKenzie team was led by Brussels partner Dominique Maes, alongside Brussels partner Koen Vanhaerents, Amsterdam partner Jan Peters and Brussels associate Joeri Vananroye.