, Philippines
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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.
 

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