The British investment company Apax Partners has attracted the Japanese Nomura Holdings Inc. and the Swiss UBS Group AG to organize a tender for the sale of the GamaLife insurance consolidator. This is reported in the Apax press release.
Apax expects to sell GamaLife for 600 million euros ($703 million). Other private equity and insurance companies have shown interest in the asset. Negotiations are ongoing and do not guarantee the conclusion of a final agreement. Apax may also decide to keep the business for a longer period of time.
In recent years, the market for insurance policies, or portfolios of old insurance policies, has been actively developing in Europe in order to free up capital by insurance companies. Consolidators, with the support of private capital, are buying up these obsolete assets.
In particular, in March, a consortium consisting of Allianz SE and BlackRock Inc. entered into an agreement to acquire the German insurance company Viridium Group for 3.5 billion euros, including debt obligations.
Apax Partners LLP is a British investment company in the telecommunications, information technology, retail, healthcare and financial services sectors for businesses. The headquarters is located in London (England).
GamaLife is a British pension insurance company. GamaLife is a subsidiary of Apax Partners. The headquarters is located in London (England).
Nomura Holdings, Inc. is a Japanese financial company within the Nomura Group, which is Japan's largest investment bank and brokerage group. The company serves individuals, institutions, corporations, and government agencies within three business divisions: retail, wholesale (global markets and investment banking services), and investment management. The headquarters is located in Tokyo (Japan).
UBS Group AG is the largest Swiss financial holding company providing a wide range of financial services. The headquarters is located in Zurich (Switzerland).
Read also in our Telegram channel "Mergers and acquisitions. AK&M».
