The Swiss UNIQA Re AG – part of the Austrian UNIQA Group – has ceded its 45% minority equity participation in the Spanish insurance company,  Cosalud S.A. de Seguros to the main shareholder, Grupo Catalana Occidente.

Cosalud has conducted health insurance business in Spain since 1991, with great dependence on the main shareholder,Grupo Catalana Occidente. Cosalud achieved a premium volume of around € 13 million in 2003.

In terms of its growth strategy, the UNIQA Group focuses on the Central European area and is maintaining only majority equity participation in 10 countries in this region. Cession of its minority equity participation in Spain is in line with the group’s strategy.