Message from the Executive Board of SOVAG:
Owing to SOVAG’s continued unsatisfactory economic development, the Executive Board and Supervisory Board have launched a comprehensive restructuring process.
The measures involved are commensurate with the difficult situation, as well as with our responsibility towards our shareholders, partners, employees and, not least, our policyholders.
Against this background it was decided that SOVAG would discontinue operating business and withdraw from the market. Since the termination of new underwriting business was announced on 22 December 2016, we have not accepted any new risks.
We are currently exploring the insurer market for partners to take over our legacy business where we know that our clients will be in good hands. Our maxim remains: SOVAG will continue to be a reliable and dependable partner.
In essence this means:
We deeply regret these circumstances, wish to thank you for the trust you have placed in us and hope for your understanding.
The Executive Board of SOVAG