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WUEBA (2004)
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.
Investment details
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First German insurer acquired by private equity investor
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Sold to AIG after buy & build acquisition of an AXA subsidiary
Seller
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Wuestenrot & Wuerttembergische
Buyer
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JC Flowers
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