Generali completes disposal of TUA Assicurazioni to Allianz

Milan – Generali has completed the disposal of TUA Assicurazioni S.p.A. to Allianz.

The transaction is aligned with the implementation of the Group’s “Lifetime Partner 24: Driving Growth” strategy in Italy to pursue profitable growth, reduce complexity with the aim of making its operating machine more efficient and to increase P&C diversification.

The transaction generates a positive impact of around € 50 million on the net profit, and a neutral effect on the normalized net profit, adding approximately 1 p.p. to the Group Solvency II position.

Mediobanca – Banca di Credito Finanziario S.p.A and Rothschild & Co acted as financial advisors and law firm Gianni & Origoni acted as legal advisor for the transaction.