Belgium's KBC Group NV (KBC.BT) has agreed to sell its Polish insurance unit Warta to Germany's Talanx International AG (HDI.YY) for 770 million euros ($998.7 million), the two companies said in a statement Friday.

The sale of Towarzystwo Ubezpieczen i Reasekuracji Warta SA will increase KBC's core tier-1 ratio by "slightly less than 0.7%" and significantly boost Talanx's market share in Poland, the companies added.

-By Marynia Kruk, Dow Jones Newswires; +48 22 447-2431; marynia.kruk@dowjones.com

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