Assicurazioni Generali SpA announced the closing of the sale of its operations in Panama and Colombia. These two transactions, which 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.
Generali sold its Panama business to ASSA Compañía de Seguros S.A., while its Colombian business was sold to Talanx Group. The final consideration of these two sales is approximately €170 million (US$209.6 million), Generali said.
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.
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