Achmea acquires Slovak insurance company Poštová poisťovňa
Zeist/Bratislava, 11 december 2020 – Achmea is expanding its presence in Slovakia by the acquisition of insurance company Poštová poisťovňa. The transaction is being carried out by Achmea’s Slovak subsidiary, Union. It was announced today that Union and the shareholders of Poštová poisťovňa – Poštová banka (Slovak Postbank) and Slovenská pošta (Slovak post offices) – had reached agreement on the proposed transaction.
Robert Otto, member of Achmea’s Executive Board: “This transaction is in line with our international strategy that focuses on further reinforcing our market position in countries where we already have operations. We are concentrating on increasing the scale of our non-life and health insurance activities through online and bank distribution channels. Union’s distributive strength will be considerably reinforced as it will gain access to the distribution channels of Poštová banka and Slovenská pošta.”
Achmea is targeting its know-how and experience at areas where it expects above-average growth. For example, in 2018 it deployed technology and robotisation to enhance customer service in Slovakia and in 2019 Union took over Aegon’s non-life portfolio of household insurance covering about 18,000 Slovak homes.
The acquisition of Poštová poisťovňa has been submitted to the regulators in Slovakia for approval. The transaction is expected to be completed in early 2021.