Italian insurer Generali has received regulatory approval for the acquisition of a controlling interest in Società Cattolica di Assicurazione.
The European Commission has given Generali the green light to make an offer to acquire all the ordinary shares of Cattolica.
Further details of the offer have not yet been disclosed.
Generali committed to becoming a major shareholder of Cattolica Group through a reserved share capital increase for €300 million back in June 2020, when the pair launched a new strategic partnership.
Cattolica offers life and non-life insurance in Italy through a network of agencies and affiliated banks.
Its services include life, automobile, health, fire, theft, accident, and property damage insurance and real estate management.