According to newspaper reports Italy’s Generali may soon make a 300 million euro ($355.5 million) bid for French insurer Le Continent in a bid to increase its share of the French market. It considers the country a prime expansion opportunity.
Dow Jones Newswires quoted Radicor, an Italian news service, as indicating that Generali’s board might meet today to consider a bid for Le Continent, which is currently owned by another Italian insurance company, Toro Assicurazioni SpA.
Generali is currently France’s 6th largest insurance group, with around 8.4 billion euros ($9.95 billion) in annual premiums from both P/C and life operations. Le Continent would add around 750 million euros ($888.7 million) to that total.
Was this article valuable?
Here are more articles you may enjoy.
Reuters: Iran, Russia and the New Zealand Insurer That Kept Sanctioned Oil Flowing 
Buffett’s Berkshire Cash Hits $382 Billion, Earnings Soar 
Don’t Look Now, But Citizens Is No Longer the Largest Property Insurer in Florida 
Catastrophe Bond Investors Told to Brace for Jamaica Payout 
