National General Holdings Corp. Announces Agreement to Divest Euro Accident Health and Care Insurance in Sweden
NATIONAL GENERAL HOLDINGS CORP (NGHC)
Last national general holdings corp earnings: 4/29 04:05 pm
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US:NASDAQ Investor Relations:
ir.nationalgeneral.com/investor-relations
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Source: GlobeNewswire
NEW YORK, Sept. 03, 2019 (GLOBE NEWSWIRE) -- National General Holdings Corp. (NASDAQ:NGHC) announced today that it has entered into an agreement to sell its Euro Accident Health and Care Insurance Sweden operation (Euro Accident Sweden), to an investor group arranged by Impilo AB, a Swedish investment company focused on Nordic healthcare investments. Euro Accident Sweden provides health insurance, predominantly personal medical insurance or PMI which is an enhanced medical policy that supplements a national health care plan provided to large group and individuals. The estimated sale price for this transaction is $138 million, which would result in an estimated pre-tax gain on sale of $3 million, which is net of a negative realized FX translation impact of $22 million. Since this transaction is based in Swedish Krona (SEK) and will reflect certain closing adjustments, the final price and gain on sale will vary accordingly. The transaction is expected to close in late 2019 or earl
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