CEAT, subsidiary of Swiss Life, specialises in accidental damage insurance for commercial vehicles.
Helvetia Insurance has announced that it will complete the acquisition of L’Européenne d’Assurance Transport (CEAT) from Swiss Life, in the second half of the year. CEAT specialises in accidental damage insurance for commercial vehicles.
Post acquisition, CEAT will initially retain its brand name. After the transaction, Helvetia will increase its premium volume in France by more than 50%.
Alain Tintelin, MD, Helvetia France, said: “CEAT complements Helvetia’s product range perfectly. Now transport companies can obtain full insurance cover from one provider. In addition, this acquisition will also strengthen our closely linked, broker based distribution network and create the optimum conditions for profitable, sustainable growth through united strength.”