Provinzial Versicherung

Type
Merger/Acquisition
Country
Germany
Region
Nordrhein-Westfalen; Münster; Münster, Kreisfreie Stadt
Location of affected unit(s)
Münster und Kiel
Sector
Financial / Insurance/ Estate
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
340 jobs
Number of planned job losses
Job loss
Announcement Date
29 June 2005
Employment effect (start)
1 September 2005
Foreseen end date
31 December 2008

Description

After the merger of two regional public-law insurance organisations in the north of Germany, the new company, Provinzial Holding AG, announced that 340 administration jobs will be cut. 150 jobs will go in Münster (North-Rhine Westphalia), 190 in Kiel (Schleswig-Holstein).

Sources

Citation

Eurofound (2005), Provinzial Versicherung, Merger/Acquisition in Germany, factsheet number 61885, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61885.