HDI Global sells its Norwegian subsidiary companies

HDI Global, an industrial lines insurer, is selling its Norwegian subsidiary companies, Scandinavian Marine Agency and Gerling Norge, to Norwegian insurer Skuld.

After the complettion of the sale, the industrial lines insurer, part of the Germany-based Talanx Group, which also owns Hannover Re, will serve its industrial and corporate customers in Norway from its Danish branch office in Copenhagen.

The transaction also comprises the sale of renewal rights of the HDI branch office in Norway including its ocean hull portfolio. Overall, the gross premium volume of activities being sold in the business year 2015 is worth some $40 million.

Skuld also takes over the 18-head team of the Norwegian HDI units.