Portfolio company news

All Group media enquiries should be directed to
Vanessa Maydon, Corporate Affairs Director.

Cinven Partners LLP
Warwick Court
Paternoster Square
London EC4M 7AG

 

Tel: +44 (0)20 7661 3325
Mob: +44 (0)7802 961 902
Email: Vanessa Maydon

Press releases

ERGO Italia
9 January 2017

Phlavia Investimenti completes the acquisition of Old Mutual Wealth Italy

Phlavia Investimenti, the Italian holding owned by the international private equity firm Cinven and already controlling the Italian insurer ERGO Previdenza, announces that it has completed the acquisition of Old Mutual Wealth Italy ("OMWI"), a leading Italian insurance company specialised in the unit-linked market. The completion follows the agreement announced on 9th August 2016 and the proper authorisation received by the Italian insurance supervisor, IVASS (Istituto per la Vigilanza sulle Assicurazioni).

Erik Stattin, Group CEO of Phlavia Investimenti, commented:"We are extremely satisfied to announce this new milestone on our path to become a consolidator in the Italian market. We have already sold our non-life insurance company in order to concentrate on life insurance; the acquisition of OMWI is another step to strengthen our position through financial, operational and commercial synergies and diversify our product portfolio and distribution network, generating further cross selling opportunities for our business."