GENERALI completes sale of operations in Panama and Colombia

Assicurazioni GENERALI announced the closing of the sale of its operations both in Panama and Colombia. The operations in Panama were sold to ASSA Compania de Seguros S.A. while the business in Colombia was sold to TALANX Group.

"The final consideration of these two sales is approximately EUR 170 million", as the Italian insurer announced in a statement.

The GENERALI Group will still be present in both countries through its Global Business Lines, or more specifically, GENERALI Employee Benefits, GENERALI Global Corporate & Commercial and GENERALI Global Health as well as through its EUROP ASSISTANCE operations.

These two transactions, that were originally announced during the second half of 2017, are part of the Group's overall strategy to rationalize its international footprint and to improve operating efficiency and capital allocation.

Related articles

SOMPO International got green light for its EU subsidiary

SOMPO International Holdings Ltd. (SI) announced on April 23 that it has received the regulatory approvals from the Ministry of Finance of Luxembourg to establish a new subsidiary, SI Insurance (Europe), SA (SIIE), which will become operational later in 2018.

2018-04-25

VIG Re, FY2017: Profit before tax up by 5% y-o-y

VIG Re reported for 2017, on consolidated basis, GWP of EUR 459.9 million, up by 10.2% y-o-y. Premium growth was driven by the Property & Casualty segment which grew by 13.0% to EUR 422.4 million. Main markets which account for growth were CEE and DACH.

2018-04-19

ZURICH to launch public share buy-back program

ZURICH Insurance Group announced that it will launch its public share buy-back program of up to 1.74 million shares on April 11, 2018. All required regulatory approvals have been obtained.

2018-04-12

Zurich: leadership transition in EMEA business

Currently group CEO of AXA UK and Ireland, Amanda BLANC will also join the executive committee at ZURICH, with the handover scheduled to complete in the fourth quarter of 2018. BLANC is to succeed Gary SHAUGHNESSY as CEO of ZURICH Insurance's EMEA business.

2018-04-12

ON THE MOVE

Zurich: leadership transition in EMEA business

Currently group CEO of AXA UK and Ireland, Amanda BLANC will also join the executive committee at ZURICH, with the handover scheduled to complete in the fourth quarter of 2018. BLANC is to succeed Gary SHAUGHNESSY as CEO of ZURICH Insurance's EMEA business.

12.04.2018

TOP EVENT

Why should you participate at FIAR 2018?

With an exclusive list of professional speakers, 7 conferences and workshops analyzing current trends and issues on the re/insurance markets, as well as hundreds of bilateral meetings and networking opportunities, FIAR 2018 represents a key event on the business agenda.

25.04.2018

What re/insurance professionals are already on FIAR 2018's list of speakers?

Specialists from ICMIF - International Cooperative Mutual Insurance Federation and PensionsEurope, representatives of national insurance associations from Austria and Turkey, as well as professionals representing SWISS Re, GEN Re and AUDATEX are just a few of the speakers who have already confirmed their presence at FIAR 2018 - The International Insurance-Reinsurance Forum.

19.04.2018

photodune-3834701-laughing-girl-xs

LIVE: Moscow, Russia: The XXII International Reinsurance Conference

The XXII International Reinsurance Conference has started today in Moscow, organized by Delovoy Format, with the support of the Russian Insurers Association. XPRIMM, the traditional Media Partner of the conference, has launched on the occasion the latest edition of its Insurance Profile Russia, providing for 2017 insurance statistical data.

11.04.2018

photodune-3834701-laughing-girl-xs

The 4th edition of the European Consumer Protection Conference: Main conclusions

The European Consumer Protection Conference, taking place on Thursday, 22 March, in Prague, brought into debate the consumer environment in the current European regulatory and economic landscape, the upcoming legislative changes that will benefit consumers and users of insurance and private pension products, as well as digitalization and the impact of technological advances in the field of financial services.

22.03.2018

See all