UK-based MNK Group has completed the acquisition of 100% of ETU Forsikring, a Danish non-life insurer.
The deal, the transaction value of which was not revealed, marks MNK Group's first risk carrier domiciled in the EU.
The acquisition of the insurer, which is headquartered in Rødekro in Southern Jutland, followed approval from the Danish Financial Supervisory Authority, Finanstilsynet.
ETU has held insurer authorisation since 2006 and is licensed across 11 non-life classes.
These include property (fire and other damage), general liability, motor, marine hull and liability, and goods in transit (cargo), along with accident, legal expenses and assistance.