Press Release: Nationale Suisse sells Belgian subsidiaries

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   February 06, 2015 01:00 ET (06:00 GMT)- - 01 00 AM EST 02-06-15

-2 of 2- 06 Feb 2015 06:00:00 UTC  Press Release: Nationale Suisse sells Belgian subsidiaries

Nationale Suisse / Nationale Suisse sells Belgian subsidiaries . Processed and transmitted by Nasdaq OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

Nationale Suisse is selling its subsidiary Nationale Suisse Belgium and two underwriting agencies. This is an important step in its previously announced withdrawal from the Belgian market.

Nationale Suisse sells its subsidiary Nationale Suisse Belgium to the Enstar group. The two underwriting agencies Vander Haeghen & Co and Arena, which focus on specific risk insurances, will join Torus Insurance, the active underwriting company of Enstar. The three companies together generate more than 70 percent of the premium volume of Nationale Suisse in Belgium.

After an in-depth review, Nationale Suisse decided in 2014 that the Belgian market would no longer be regarded as strategic and has now commenced its withdrawal. The sale will become effective once the competent authorities have approved the change of ownership. The total consideration for the transaction will be EUR 33.7 million. As concerns Nationale Suisse Belgium, the restructuring measures linked with this transaction will be implemented by means of a still to be agreed social plan.

After this transaction has been completed, Nationale Suisse will only be represented on the Belgian market through L'Européenne, a company specialising in travel insurance. A strategic review of L'Européenne is still in progress. Furthermore, Nationale Suisse will continue to underwrite art insurance business in Belgium via its subsidiary in Liechtenstein.

Brief profile

Nationale Suisse is an innovative and international Swiss insurance group providing first-rate risk and pension solutions in non-life and life business as well as tailored specialty lines products. Nationale Suisse has been part of the Helvetia Group since October 2014. The plan is to integrate Nationale Suisse fully into Helvetia. The consolidated gross premiums of Nationale Suisse came to CHF 1.5 billion in 2013. The headquarters of Swiss National Insurance Company Ltd are in Basel. The company's stock is listed on SIX Swiss Exchange (NATN). The stock will be delisted as part of the integration of Nationale Suisse into the Helvetia Group. On 30 June 2014, the Nationale Suisse Group employed 1 903 staff (full-time equivalents).

Information Jonas Grossniklaus Nationale Suisse Media Relations / Investor Relations Steinengraben 41 Phone +41 61 275 28 11 4003 Basel Fax +41 61 275 22 21 Switzerland media.relations@nationalesuisse.com www.nationalesuisse.com/media-relations

Disclaimer and exclusion of liability

The purpose of this press release is to inform the public about certain events or developments arising from the company's business. The information published in this article is not an advertisement, offer or recommendation to engage in transactions involving securities or other products of Nationale Suisse or any other type of transaction. This press release may contain certain forward-looking statements. Even if these forward-looking statements reflect the opinion and expectations of Nationale Suisse, a number of risks, uncertainties and other important factors may lead to actual developments and results differing strongly from the expectations of Nationale Suisse. It is pointed out expressly that the statements and projections contained in this press release are selective in nature. Nationale Suisse provides no guarantee, either explicitly or implicitly, regarding the accuracy and completeness of the statements and forecasts published in this press release. Neither Nationale Suisse nor its executive bodies or senior managers accept any liability for any damage or losses arising directly or indirectly from the use of this press release. Unless otherwise provided by applicable binding law Nationale Suisse is under no obligation to update or amend the statements contained in this press release, be it in response to new information, future events or any other reasons.

Updated post-publication information is available on our website www.nationalesuisse.com. You may find further details and forecasts about the business of Nationale Suisse there.

Press release: http://hugin.info/100296/R/1892204/670254.pdf

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Nationale Suisse via Globenewswire

HUG#1892204

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Nationale Suisse

Steinengraben 41 Basel Switzerland

WKN: 1081197;ISIN: CH0010811971;

http://www.nationalesuisse.com (END) Dow Jones Newswires

   February 06, 2015 01:00 ET (06:00 GMT)- - 01 00 AM EST 02-06-15