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CORRECTED-Poland's insurer PZU buys Baltic rivals for $356 million
April 17, 2014 / 6:27 AM / 3 years ago

CORRECTED-Poland's insurer PZU buys Baltic rivals for $356 million

(Corrects purchase price in headline)

WARSAW, April 17 (Reuters) - Central and eastern Europe’s largest insurer PZU has bought three Baltic rivals for a total of $356 million, pending adjustments, PZU said in a statement on Thursday.

PZU said it bought Lithuania’s Lietuvos Draudimas and Latvian AAS Balta from British group RSA. PZU added that it purchased the Estonian unit of Denmark’s Codan Forsikring.

PZU said it bought Lietuvos Draudimas for 180 million euros ($248.52 million), AAS Balta for 48 million euros and the unit of Codan Forsikring for 30 million euros, all amounts pending adjustments.

$1 = 0.7243 euros Reporting by Marcin Goettig

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