Royal & SunAlliance's Danish insurance subsidiary Codan has bought Trekroner Forsikring from Swiss National Insurance Company for DKr270m (£22.6m).
The deal is subject to the approval of the competition authorities and is expected to take effect from 1 January 2002.
Codan, which is 71.45% owned by R&SA, said DKr165m (£13.8m)
of the purchase price was attributable to goodwill.
It added that it expected the acquisition to have little business impact in 2002, as takeover and integration costs, including amortisation of goodwill, were neutralised by gross profit margins from Trekroner.
