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Provinzial NordWest to buy majority of OCC Assekuranzkontor

German control holding company Provinzial NordWest Holding AG will take over a 75% stake in specialty insurance provider OCC Assekuranzkontor GmbH as well as its subsidiary OCC Assekuradeur GmbH.

The OCC companies will be incorporated in the structure of Provinzial NordWest's parent company, the Northwest Provincial Group, which is the second-largest public insurance company in Germany.

OCC Assekuranzkontor GmbH's founding shareholder, Martens & Prahl Holding, will keep a 25% stake in the company.