Generali: completes sale of Generali Belgium
(CercleFinance.com) - Generali, the Italian insurance giant based in Trieste, yesterday announced that it has finalised the sale of its Belgian subsidiary, Generali Belgium, which was previously announced on 18 April 2018.
The entity has been sold to Athora Holding, a Bermuda-based insurance and reinsurance group. This company specifies that the transaction amounts to around 540 million euros, and that Generali Belgium will be renamed Athora Belgium by the end of March 2019.
"The transaction was part of the Group's overall strategy to optimize its geographical footprint and to improve its operational efficiency and capital allocation," Generali said.
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