Generali has completed the acquisition of The Medical, an insurance company aimed at healthcare professionals, from Credit Agricole Assurances after receiving all necessary clearances from regulatory and antitrust authorities. The operation, announced last February, also provides for the sale of the portfolio of life insurance contracts of Predica1, distributed and managed by La Médicale.
For the Lion of Triest, the acquisition represents a strategic growth opportunity, explains a note, and "is in line with Generali's strategy of strengthening its distribution channels through the agency network and consolidating its position in the professional market by acquiring a specific network of independent healthcare professionals”.
“The success of this acquisition strengthens our presence in France, one of our main markets – declared the Generali group CEO, Philippe Donnet -. The transaction is in line with our Lifetime Partner 24: Driving Growth strategic plan and allows us to consolidate our position in the health, pure risk and, overall, non-life lines, while extending our ambition to include new clients. to be a life partner”.
Jean Laurent Granier, country manager France & Europ Assistance, explained that the integration of La Médicale's activities into the Generali Group's business “strengthens our positioning as a multi-specialist insurer. We will enrich – he added – our skills by consolidating the relationship with independent healthcare operators. In this way, we will become the Life Partner of 300 new customers by providing them with a wide range of insurance solutions and services”.
Mediobanca e Zaoui & Co. acted as financial advisors to Generali e Herbert smith Freehills Paris as a legal advisor.
