Bâloise Holding AG unit Basler Versicherungen agreed to sell insurance brokerage arm Wilhelm Herrmann Assekuranz KG to Artus Gruppe.

The deal is in line with Basler Versicherungen's strategy to focus on nonlife insurance and limit its life business to biometrics and fund-related pension insurance. It is also seen as a way to streamline the group's insurance operations in Germany and improve its position on the local market.

Earlier this year, Basler Versicherungen sold a closed life insurance portfolio held by the German branch of Baloise Life Ltd. to Frankfurter Leben Group.

Basler Versicherungen also announced the appointment of Julia Wiens to serve as CFO from Feb. 1. Wiens most recently was actuary at Basler Sachversicherungs-AG, another division of Bâloise Holding.

Bâloise Holding's German operations also include Basler Lebensversicherungs-AG.