Generali Sells Operations in Panama and Colombia
April 16 2018 - 4:49AM
Dow Jones News
By Euan Conley
Assicurazioni Generali SpA (G.MI) said on Monday that it has
finalized the sale of its operations in Colombia and Panama as part
of the company's plan to rejig its international footprint.
The Italian insurer said the total consideration for the two
sales was approximately 170 million euros, adding that the deals
would allow it to improve its operating efficiency and capital
allocation.
Generali's Panama operations were sold to Assa Compania de
Seguros while German insurer Talanx bought its business in
Colombia, the company said.
It added that it would still retain a presence in both countries
through its global business lines.
As part of its strategic plan, Generali previously said it would
alter its geographical presence by leaving less profitable markets
to focus on core ones.
Write to Euan Conley at euan.conley@dowjones.com
(END) Dow Jones Newswires
April 16, 2018 05:34 ET (09:34 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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