The insurance company Mapfre will buy the Italian and German activities of Direct Line, an insurance group based in Great Britain, for 550 million euros. The operation will bring to Mapfre, one of Cattolica Assicurazioni's major shareholders, total premiums of 714 million euros and 1,6 million customers, says a note.
“The acquired Italian and German assets are absolutely strategic for Mapfre because they strengthen the two main lines of our global growth plan, allowing us to increase our presence in Europe and, at the same time, to contribute to our shift towards the digital business”, he said. said President Antonio Huertas.
