Gerling NCM Credit and Finance deal finalised

ZURICH - The deal to finalise the creation of Gerling NCM Credit and Finance has been finalised. Reinsurance giant Swiss Re which was a 90% shareholder in NCM Holding, will own a 25% stake in the new company and received a combination of cash and stock as part of the deal. Walter Kielholz, chief executive of Swiss Re said Gerling Credit and Finance would be a leader in the credit insurance market and added that Swiss Re would retain an �active interest and role� in the new entity. The new company expects to have total gross premium of Euro1.1bn and around a 25% share of the global direct trade credit market. An initial public offering of the company it expected once the business has been integrated.