Reinsurance News

Assicurazioni Generali SpA completes sale of Dutch business to ASR Nederland

6th February 2018 - Author: Staff Writer

Assicurazioni Generali SpA has completed the sale of its entire shareholding in its Dutch business, Generali Nederland N.V. (and its subsidiaries) to ASR Nederland N.V., one of the leading insurance groups operating in Holland.

Generali logoThe Generali Group will remain active in the Netherlands through its Global Business Lines; Generali Employee Benefits, Generali Global Corporate & Commercial, Europ Assistance and Generali Global Health, and will continue to provide insurance services to its international customers.

This follows the announcement of the sale by Assicurazioni Generali on September 13, 2017.

Generali has been actively selling off segments of its business which it does not see as core, or are deemed to be underperforming, in order to better optimise its capital around the group companies.

The Netherlands operations of Generali Group employs around 400 people and underwrites around EUR 250 million of premiums, giving it less than 2% of the local market share and putting it 15th in terms of non-life players.

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