PE Firm To Buy Ageas' German Life Insurance Unit

Law360, New York (October 4, 2011, 6:40 PM EDT) -- Belgian insurer Ageas Insurance International NV announced Tuesday that it would sell its German life insurance business to private equity firm Augur Capital Partners GmbH & Co. KG for an undisclosed amount.

The unit, Ageas Deutschland Lebensversicherung AG, earned €45 million ($59.8 million) in 2010, according to Ageas. The sale will include Beteiligungskonzept GmbH and its subsidiaries, which are fee-based financial advisers, Ageas said.

"The sale of our German company is in line with Ageas's strategic criteria determined in September 2009," said Steven Braekeveldt, Ageas' CEO...
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