Etoile Commercial Contributes to Gurling Namur Profit Growth


Gerling Namur Profit up by 43% Gerling-Namur, the subsidiary of German Gerling Credit Insurance Group, saw consolidated profit rise 9 per cent to BFr8.43bn in 1999. In Gerling Credit Insurance Group, Gerling-Namur is responsible for three important European markets: the Benelux countries, France and the UK. Gerling-Namur employs about 460 in Belgium, 200 in France, 50 in the UK and 40 in the Netherlands. Consolidated premium turnover amounted to BFr7bn. This spring (2000), Gerling-Namur completed the takeover of French factoring company Etoile Commerciale. With the new acquisition, the company expects to generate consolidated turnover of BFr10.6bn in the year 2000, a 26 per cent increase on 1999. Operating result is expected to rise 8 per cent to BFr762m.

De Financieel Ekonomische Tijd - June 8, 2000



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