Zurich Financial Services Group, through its subsidiary, Zurich Beteiligungs-AG (Deutschland), will acquire privately owned German accident insurer Baden-Badener Versicherung AG. The purchase price was not disclosed.
Zurich said it has already received approval from the German financial supervisory and antitrust authorities, and that the transaction is expected to close in the third quarter of 2008. The transaction will be effective retroactively as of January 1, 2008.
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