In 1983 the WUEBA (Wuerttembergische and Badische Versicherungs-AG) emerged from the intermediary and insurance brokerage business. In the summer of 1993 the Elektra insurance was taken over. At the end of 1998 the Nord-Deutsche Versicherungs AG (Hamburg) and the Neu Rotterdam Deutschland (Cologne) were purchased. At that time the WueBa had about 840,000 contracts, 470,000 losses and 7,000 brokers.

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Investment details

• First German insurer acquired by private equity investor

• Sold to AIG after buy & build acquisition of an AXA subsidiary

 

Seller

• Wuestenrot & Wuerttembergische

 

Buyer

• JC Flowers