Generali announces, following the favorable opinion expressed by IVASS, the Italian institute for insurance supervision, the completion of the process of transferring the Non-Life legacy portfolio of the UK branch of Generali to Compre Group, one of the main companies specializing in divested insurance businesses.
The transaction had been launched in December of last year and the portfolio mainly included contracts placed on the London international market. The P&C legacy portfolio of the UK branch has been transferred to the counterparty, while that of the US branch remains fully reinsured by the same counterparty. This communication follows the announcement made by Assicurazioni Generali on 19 December 2017.
