insurance

Insurance company VidaCaixa’s net profit drops by 46% to settle at €420 million

February 14, 2014 07:26 PM | ACN

In 2013, the consolidated net profit of VidaCaixa, the insurance branch of Spain’s largest bank CaixaBank, amounted to €420.1 million. The figure represents a 46.2% decrease on the previous year, when it had reached €789.5 million. This decrease is due to the effects of the reinsurance transaction on the company’s ‘vida-risc’ life insurance, which occurred in the last quarter of 2012, bringing in an extra income of €600 million back then. On the other hand, the net recurring profit for 2013 totalled €328.3 million, 3.1% less than the previous year. VidaCaixa has reached 3.6 million customers and exceeded €50 billion of assets under management, both figures amounting to a 14.1% increase on the previous year.

German multinational GFT CEO, Ulrich Dietz: “Catalonia is one of our preferred places to invest”

October 3, 2013 10:06 PM | ACN / Laura Pous / Albert Segura

The founder and CEO of technology company GFT announced that they will create 500 new jobs in Catalonia in the coming years. In an exclusive interview with the CNA, Ulrich Dietz, stated that he has “aggressive plans to increase the staff” in Greater Barcelona and Lleida. GFT  specialises in developing technological solutions for the banking and insurance sectors, with a turnover of €231 million in 2012. With several offices in Germany, the company is based in Stuttgart and is present in Brazil, France, Italy, Switzerland, Spain, US and UK. A quarter of GFT employees throughout the world are based in Catalonia. Most of them work in Greater Barcelona, which is the company’s “hub” for the European market. Dietz explained that he has plans to develop Lleida’s facilities, which currently employ 40 people, “significantly”.

Banc Sabadell pays AEGON €450 million for 50% of the insurance company Mediterraneo Vida

May 4, 2013 12:21 AM | CNA

The Catalan financial entity Banc Sabadell reached an agreement with the Dutch insurance company AEGON on Friday to buy 50% of the shares of Mediterráneo Vida, S.A. de Seguros y Reaseguros, the joint venture originally established with Caja de Ahorros del Mediterráneo. The operation is on the condition that they receive the green light from the regulatory authorities. The transaction will allow Banc Sabadell to own 100% of Mediterráneo Vida, S.A. With the operation, the Catalan bank will move forward in the organisation of its insurance subsidiaries and affiliates.