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.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

AXA: acquisition of XL Group completed

AXA has announced on September 12 that it has completed the acquisition of XL Group Ltd, a leading global Property & Casualty commercial lines insurer and reinsurer with strong presence in North America, Lloyd's, Europe, and Asia-Pacific.


QBE's received approval to move its European business to Brussels

QBE European Operations, the business insurance specialist, part of the Australian QBE Insurance Group, has received the High Court approval for moving its general insurance business written through its European branch network to QBE's new Belgian (re)insurance entity, QBE Europe SA/NV.





LIVE from Monte Carlo: The 62nd edition of the "Rendez-Vous de Septembre"

The 62nd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.


Willis Re - Market still soft, but functional

Despite the high losses from 2017 the reinsurance market is still soft, James KENT, Global Chief Executive Officer (CEO) of Willis Re stated at a press briefing in Monte Carlo.


AIR launches severe thunderstorm model

Catastrophe risk modeling firm AIR Worldwide released a new severe thunderstorm model for Europe. Together with AIR's Extratropical Cyclone Model for Europe and European flood models, this new model now allows for a comprehensive assessment of atmospheric risk in this region.


See all