Generali has completed the sale of its entire stake in Generali Life Assurance Philippines, Inc. to The Insular Life Assurance Company, Ltd., the company announced on 23 May.
The transaction follows an agreement first disclosed in December 2024 and forms part of the group’s broader strategic initiative to streamline its geographical footprint. Commercial details of the deal were not disclosed.
This move is part of Generali’s ongoing efforts to streamline its international footprint and focus on markets where it holds stronger positions. It aligns with the group’s “Lifetime Partner 24” strategy, which includes reallocating capital from smaller or non-core operations to support more profitable growth areas.
Generali previously stated the sale would have an immaterial impact on its Solvency II position and result in a capital loss of about €20m (US$21m) after taxes and minorities, with no effect on the adjusted net result.
Advisors on the deal included PwC, which acted as sole financial advisor and vendor assistance provider, and PJS Law (Dentons) as legal counsel.
