Generali receives regulatory approval for the Non-Life legacy portfolio transfer of its UK branch
20 December 2018 - 13:00
Trieste – Following the regulatory approval from IVASS, the Institute for the Supervision of Insurance in Italy, Generali announces the closing of the legal transfer process for the Non-Life legacy portfolio of its UK branch to Compre Group, one of the leading discontinued business specialists in the insurance industry.
The transaction was signed in December last year and the portfolio consisted mainly of London market contracts.
The Non-Life legacy portfolio of the UK branch has been transferred to the counterparty, while the US branch one remains fully reinsured with the same
counterparty.
This follows the announcement by Generali on December 19, 2017.