After successfully completing all the necessary regulatory steps and approvals, General has completed the legal integration of Generali Seguros y Reaseguros (previously, Liberty Insurance) and Generali España de Seguros y Reaseguros, which will operate under the name Generali España de Seguros y Reaseguros. This follows the successful conclusion of all legal procedures required for the formal transfer of operations from Liberty's Portuguese subsidiary to Generali Tranquilidade, which took place in August.
Jaime Anchùstegui, deputy CEO Insurance Generali Group CEO, commented: “This is an important milestone that demonstrates the effectiveness of our strategy and Generali's strong ability to generate consistent growth in our key geographies. This transaction represents a unique opportunity to further strengthen our leadership position in the European insurance industry. In its strategic markets, Generali is now an even stronger, more diversified, and multi-channel player, capable of creating significant and lasting value for all stakeholders and continuing its commitment to being a 'Lifetime Partner' for our customers. Furthermore, this achievement marks the completion of a major integration involving three countries in which our group operates.”
The numbers of the new entity
“The acquisition of Liberty Seguros' European operations by Generali España represents the largest M&A transaction for Generali in the last decade”, the group highlights in a note, which underlines that the operation has already had a positive impact on Generali's performance and position in both Spain and Portugal.
In 2024, the operating result of Generali España and Generali SAU (formerly Liberty Seguros) grew by 44,6%, reaching 398 million euros. In Portugal, operating profit increased by 21,1% in 2024, reaching 134 million.
Furthermore, the first half of 2025 continued to show positive momentum across all business lines in both markets. SpainWith this new scale and a fully multichannel distribution network, Generali recorded premiums of €3,8 billion at the end of 2024 (+7,7%). The company operates with nearly 10.000 intermediaries throughout Spain and has approximately 2.000 employees. In Portugal, Generali recorded premiums of €1,8 billion at the end of 2024 (+17,1%), with approximately 1.300 employees and a network of approximately 2.000 agents.
