Swiss insurer Baloise to buy Belgium's Fidea for 480 mln euros

ZURICH, April 15 () - Swiss insurer Baloise Holding on Monday said it is acquiring the Belgian insurer Fidea NV for 480 million euros ($543 million) from China'sAnbang Insurance Group to boost its position in the Belgian non-life and life insurance market.

Baloise said the deal will increase its share of the non-life business in Belgium by 1.7 percentage points to 8.5 per cent and by 0.7 percentage points to 4.2 per cent in the life business.

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