Reale Seguros enters Norway as the main shareholder of the Tribe group

Reale Seguros enters Norway as the main shareholder of the Tribe group

This strategic investment operation is part of the international expansion plan launched by Reale Group, following the opening of the Chilean subsidiary, Reale Chile Seguros Generales

  Reale Seguros, which already operates in Italy and Chile, has just expanded its international presence by entering the majority shareholder of the local company Tribe Holding in the Norwegian market. It has been done with 10% of the capital, which will allow it to have a seat on the board of directors, although it does not rule out raising that participation in the coming months depending on the synergies it generates.

  The other side of the operation is to advance in the digitalization of the business. Tribe controls two companies. The first, Tribe Venneforsikring, is an insurance brokerage agency that operates in the Nordic country, distributing products from different companies in its digital channel. The second, Tribe IAS (Insurance as Service), has a technological nature and specializes in digital solutions for the insurance and financial markets.

For the CEO of Reale, Ignacio Mariscal, is "another step" in his international expansion "with a" strategic "investment that" will allow us to increase and acquire new knowledge in digital business models, as well as in innovative technologies for favor the growth process. Norway, given its characteristics that are among the best at the international level in the context of economic and social indicators (including the S & P rating that is at the top of AAA), represents for our Group a target market in which be present ».

The Spanish insurance group gained almost 57 million in 2017, 66% more, and invoiced 854 million for premiums, another 4% more.