, Philippines
175 views
/Freepik

Generali completes sale of Philippine unit to Insular Life

In a previous announcement, this could result in a capital loss of ~$23m.

Generali has completed the sale of its 100% stake in Generali Life Assurance Philippines, Inc. to The Insular Life Assurance Company, Ltd.

In its December announcement, the company said the sale is expected to have an immaterial impact on Generali’s Solvency II ratio and will result in a capital loss of approximately $22.8m (€20m) after taxes and minority interests. 

The adjusted net result will remain unaffected.
 

Follow the link for more news on

Join Insurance Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you design and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Zurich launches $5b share sale to fund Beazley bid
Offer values Beazley at 1,335 pence per share including 1,310 pence cash and 25 pence dividend.
Insurance
GAIP shifts from research to policy tools in 2025
It will also advance its Asia Risk Platform with rollout set for 2026.
Insurance
QBE Insurance moves to take full control of Raheja QBE
Deal ends 18 years of joint ownership with Prism Johnson Limited, pending regulator review.
Insurance