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Sirius buys Kemper Europe.

Kemper Europe Re of Belgium is to become part of Swedish reinsurer Sirius. Sirius' parent, ABB, i...

Kemper Europe Re of Belgium is to become part of Swedish reinsurer
Sirius.


Sirius' parent, ABB, is buying the company from GE Reinsurance Corp. for
an undisclosed sum. "The move allows Sirius to expand beyond its base in
the Nordic countries," said ABB. Kemper Europe Re's clients are
principally European.


GE acquired Kemper Re's operations a year ago for $500m.


Bernhard Fink, chairman of GE's European reinsurance subsidiary ERC
Frankona, said the sale of Kemper Europe Re was "the last piece in the
puzzle" of that acquisition.


Kemper Re in North America has been renamed GE Reinsurance and its London
operations have become part of ERC Frankona.
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