Eureko sells Achmea Reinsurance S.A. in Luxembourg
Eureko sells Achmea Reinsurance S.A. in Luxembourg to Ramius Enterprise Luxembourg Holdco S. à r.l., an affiliate of Cowen Group. The transaction was approved by the regulatory authorities. The formal share-transfer was completed today.
Achmea Reinsurance S.A. is an internal reinsurance company, fully owned by Eureko Re N.V., which in turn is a 100% subsidiary of Eureko B.V. It provides reinsurance coverage to Eureko subsidiaries and external clients. As of 2008, no new business has been written by Achmea Reinsurance S.A. A portfolio transfer of all reinsurance treaties was completed before closing. As a result, the sale comprises a clean company with an Equalization Reserve of approximately € 104 million.