Insurer Generali plans sale of $21 bn of its Italian life insurance

Italian insurer Generali is planning to sell roughly 20 billion euros of its Italian life insurance portfolio, Bloomberg News reported.

The company may start a sale process as soon as January. Generali declined to comment.

The sale includes legacy policies from Societa Cattolica di Assicurazioni, the report said, adding that it is unclear how much the portfolio would fetch during the sale. Genarali had acquired Cattolica last year.

The deliberations on the deal is ongoing and no final decision on the deal size and timing have been taken, the Bloomberg report said.