Investments and divestments
Leading European insurer and integrated asset manager with a strengthened presence in fast-growing markets.
As announced in the Investor Day in December 2021, our goal is to consolidate leadership in Europe by reinforcing #1 market position, as well as to achieve leadership in selected growth markets, notably in Asia. Generali will improve portfolio rebalance by investing in underwriting risk and fee businesses. The aim is to improve market share in segments with significant growth potential – SMEs, Senior Care in Europe and Travel in the US, as well as to seize growth opportunities offered by health protection gap thanks to our leadership in core markets.
* ThreeSixty Investments has rebranded as Plenisfer Investments in October 2020.
|2 January||Closing sale Generali Belgium|
|5 February||Acquisition of Trip Mate|
|12 February||Closing acquisition majority stake in Sycomore|
|13 February||Closing acquisition of Adriatic Slovenica and KD Funds in Slovenia|
|1 March||Closing sale Guernsey based business|
|4 March||Launch of Axis Retail Partners, new real estate boutique|
|30 April||Closing sale Generali Leben|
|18 June||Closing acquisition Union Investment|
|6 February||Sale of Dutch business|
|20 March||Launch of new infrastructure debt investment platform|
|16 April||Sale of Operations in Panama and Colombia|
|19 June||Sale of Ireland-based Generali Paneurope|
|20 September||Launch of Aperture Investors, new asset management company in New York City|
|30 November||Acquisition Concordia insurance companies||
|5 December||Acquisition CM Investment Solutions||
|31 December||Closing increase stake JV Future Generali||
|16 January||Closing of GPH minority buyout.||
|7 May||Generali acquires a 49% stake in the Malaysian insurer MPIB|
|22 July||Generali acquires a 3.85% stake in Banco de Credito Cooperativo (BCC) - part of Grupo Cooperativo Cajamar - in order to strenghten the successful strategic partnership with Cajamar.|
|23 July||Generali acquires MyDrive Solutions, a leading company in motor insurance technologies.|
|Generali completes the disposal of BSI|
Closing of sale of participation in Fata Assicurazioni Danni
The sale of 100% of Fata Assicurazioni Danni to Cattolica, announced in November 2013, was made for 194.7 million euro, thus allowing the Group to further strengthen its cash and capital position.
|7 May||Completion of the Squeeze-out of The Generali Deutschland Holding minority shareholdings.
The squeeze-out began in Summer 2013 prior to the delisting of the subsidiary Generali Deutschland Holding.
Generali obtains 100% interest in Generali Asia
By acquiring 40% of Generali Asia which had been held by Kuok, Generali has now increased its holding to 100%; this company controls the group’s insurance operations in the Philippines, Thailand and Indonesia. The total consideration of the transaction amounted to 40 million euro.
|9 July||Generali launches the squeeze-out procedure on Generali Deutschland Holding
With acquisition of 3% of Generali Deutschland Holding, Generali went over the 95% threshold of its investment and announced that it intended to exercise its squeeze-out right for the remaining 4% to take full equity control of the company.
|11 June||Generali sells its two Mexican stakes
The group sold its minority stakes (49%) in Seguros Banorte Generali and Pensiones Banorte Generalito to Grupo Financiero Banorte for 649 million euro. Banorte already held a 51% stake in the two Mexican companies and controlled the distribution.
The transaction generated a net capital gain of about 500 million euro for Generali at consolidated level, acting as a further boost to the group's cash and capital position.
Generali sells its US life reinsurance business
Generali sold 100% of its life reinsurance business in the US to Scor for a total consideration of 920 million US dollars, with capital gains calculated at 150 million for the group. The transaction further strengthened the group's cash position.
12% of Banca Generali sold
Generali placed about 12% of the subsidiary Banca Generali capital at 13.55 euro per ordinary share following an accelerated bookbuilt offering. Following the sale, Generali’s investment fell to 51.5% of the share capital of Banca Generali.
Gross proceeds from the placement amounted to 185.2 million euro, resulting in a capital gain of approximately 143 million euro, which translates into a further strengthening of the group’s capital base.
|8 January||Generali obtains full control of GPH in Eastern Europe
Generali entered an agreement with GPH to purchase the remaining 49% of GPH for 2.52 euro billion from PPF in two stages.
GPH is one of the largest insurers in the Central and East European market, with a leadership position in many of the 14 countries in which operate.
|6 September||New agreement to sell Migdal to Eliahu Insurance Company by the end of October
Sale of 69.13% stake in Migdal Insurance and Financial Holdings, Israeli company operating both in the insurance and financial sector.
|Sale of the stake in Afore Banorte Generali, operating in the Mexican pension business.|
|Sale of 51% stake in B-Source S.A., operating in the Swiss banking services sector.|
|Closing of sale of participation in Intesa Vita.|
|Merger of Alleanza Assicurazioni in Assicurazioni Generali and creation of Alleanza Toro.|
|6 July||Generali acquires a 30% stake in Chinese asset management company Guotai and signs a comprehensive cooperation agreement
Agreement for the purchase of 30% stake in Guotai AMC, Chinese asset manager.
|25 June||Generali Group acquires Ardaf and Rai insurers in Romania
Generali PPF Holding acquires majority stakes in Rumenian insurance companies Ardaf e Rai.
|17 January||Generali and PPF Group sign closing agreement, Generali PPF Holding begins operations
Closing of joint venture agreement with Czech Group PPF and incorporation of Generali PPF Holding, controlled by Generali through a 51% stake.
|7 November||Generali Group: BSI acquires Banca del Gottardo
BSI acquires Swiss bank Banca del Gottardo.
|30 June||Sale of insurance company Nuova Tirrena to Groupama.|
|26 April||Generali and PPF Group to combine their Central and Eastern Europe businesses to create the region’s leading insurer
Joint venture agreement with Czech Group PPF related to the insurance activities of Generali and PPF in Central European countries. Generali owns 51% stake in the joint venture.
|10 July||The Generali Group enters Bulgaria with the acquisition of a 51% shareholding in Orel- G Holding
Purchase of majority stake in Bulgarian insurance company Orel-G.
|25 June||Generali finalises agreement with De Agostini for the acquisition of Toro Assicurazioni Group
Purchase of 65.5% stake in Italian insurance company Toro Assicurazioni from DeAgostini Group and consequent mandatory public offer.
|9 June||The Generali Group enters the Ukrainian market with the acquisition of 51% of Garant Auto and Garant Life
Purchase of majority stake in Ukrainian insurance companies Garant Auto e Garant Life.
|13 March||Generali Group acquires majority shareholding in Delta Osiguranje, Serbia’s largest private insurance company
Purchase of majority stake in Serbian insurance company Delta Osiguranje.
Purchase of Croatian insurance company Libertas Osiguranje.
BSI acquires Banca Unione di Credito, in Switzerland.
|6 March||Squeeze out of minorities shareholders of Generali Schweiz Holding, in Switzerland.|
|6 March||Squeeze out of minorities shareholders of Generali Holding Vienna, in Austria.|
|6 March||Partial squeeze out of minorities shareholders of AMB Generali Holding, in Germany.|