Generali has initiated the sale of the business in Colombia and has completed the sale of the stake in Guatemala. This was communicated by the Lion of Trieste in a note, in which it is explained that the operations fall within the scope of the strategy of optimizing the geographical presence, improving operational efficiency and allocating capital.
In detail, Generali has signed an agreement for the sale of its stake in the companies in Colombia, equal to 91,3% of Generali Seguros and 93,3% of Generali Vida, to the Talanx group. As regards Guatemala, the sale of the shareholding in the subsidiary Aseguradora General SA to the Neutze family, historical trusted partner, was completed.
In 2016, Generali Colombia recorded total premiums of approximately €59 million and shareholders' equity of approximately €22 million. Generali Colombia's share in the local insurance market is below 1%, positioned at 22nd place.
Frédéric de Courtois, Group CEO Global Business Lines & International, commented: “These transactions represent another step towards rebalancing the geographical presence of the Generali Group in the world. We are making progress in rationalizing our geographical presence by pursuing the strategy of making Generali a simpler and smarter company”.
The operation is subject, explains Leone, to the approval of the competent authorities.
