Generali Group

          where we are

                                   

          Investments and divestments

          Optimization of the international footprint aimed at exiting less attractive markets coupled with disciplined approach towards acquisitions. 

          As announced in the Investor Day in November 2016, the ongoing plan aims at optimizing our international footprint exiting certain markets featuring a lower level of attractiveness and/or a lower competitiveness, and limited profitability in terms of returns on risk capital. The resources generated by this review will be allocated to more capital efficient and profitable business opportunities, both organically and potentially inorganically. Acquisitions will be considered only when fully in line with Group’s strategy, and focused on value creation coupled with manageable execution risk.

          Date Acquisition Disposals
          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.

           
          15 September

           

          Generali completes the disposal of BSI
          Date Acquisition Disposals
          11 June  

          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.
           
          Date Acquisitions Disposals
          14 November

          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.
          4 June  

          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.

          4 April  

          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.
           
          Date Acquisitions Disposals
          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.

           

          Acqusitions Disposals
            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.

           

          Acquisitions Disposals
            Closing of sale of participation in Intesa Vita.

           

          Date Acquisitions Disposals
            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.
           

           

          Date Acquisitions Disposals
          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.
           
          Date Acquisitions Disposals
          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.
           

           

          Date Acquisitions Disposals
          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.
           
          13 March

          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.