Trieste - Assicurazioni Generali SpA announced the closing of the sale of its operations both in Panama and Colombia. These two transactions, that were originally announced during the second half of 2017, are part of the Group’s overall strategy to rationalize its international footprint and to improve operating efficiency and capital allocation.
The final consideration of these two sales is approximately €170 million. The operations in Panama were sold to ASSA Compañia de Seguros S.A. while the business in Colombia was sold to Talanx Group. The Generali Group will still be present in both countries through its Global Business Lines, or more specifically, Generali Employee Benefits, Generali Global Corporate & Commercial and Generali Global Health as well as through its Europ Assistance operations.