GARANTA Versicherungs-AG with its registered office in Nuremberg, Germany, intends to transfer the entire portfolio of its Austrian branch establishment (“GARANTA Versicherungs-AG Österreich”) to DONAU Versicherung AG Vienna Insurance Group with its registered office in Vienna.
A termination right exists for insurance policy holders pursuant to Article 20 para. 5 in conjunction with Article 31 para. 2 of the Insurance Supervision Act 2016 (VAG 2016; Versicherungsaufsichtsgesetz 2016) in respect of risks situated within Austria.