29 September 2016 Insurance

Generali sells businesses in Guatemala and Liechtenstein

The Generali Group has agreed to sell businesses in Guatemala and Liechtenstein in two separate deals.

In Guatemala, Generali has signed an agreement to sell its participation in property/casualty insurer Aseguradora Generali – equivalent to 51 percent of the share capital – to its local partners.

In Liechtenstein, Generali Schweiz Holding has agreed to sell 100 percent of Fortuna Lebens-Versicherungs, a life insurance company in run-off since 2015, to FWU, a group operating in the financial services sector with its headquarters in Munich (Germany).

According to Generali, the transactions are part of its active investment management strategy that focuses on investments in geographic areas that are most attractive for Generali and in lines of business with greater potential and less capital or cash absorption.

Both transactions are conditioned on the approval of the competent authorities.

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