Assicurazioni Generali S.p.A. announced an agreement to sell its entire stake in Generali Life Assurance Philippines Inc. to The Insular Life Assurance Co.
The transaction is expected to close in the first half of 2025, pending required regulatory approvals. Generali did not disclose the sale price.
The company stated that the deal would have a minimal impact on its Solvency II position. It also expects a post-tax capital loss of around €20 mn after accounting for minority interests, with no effect on its adjusted net result.
This move aligns with Generali’s “Lifetime Partner 24: Driving Growth” strategy, which focuses on sustainable growth, improving its earnings profile, and optimizing its geographic footprint to prioritize markets where it holds a strong position.
Previously, Generali announced plans to sell its 99.99% stake in Generali Sigorta A.Ş. to four firms. The transaction, expected to close in the first half of 2025, is also subject to regulatory approvals.
Generali plans to sell 48% of Generali Sigorta to Arex Yatırım Holding A.Ş., 42% to Kiler Holding A.Ş., 9% to Ekol Girişim Sermayesi Yatırım Ortaklığı A.Ş., and 1% to Arex Sigorta A.Ş.
