PARIS (dpa-AFX) - Generali (ARZGY.PK) announced that it has entered into exclusive negotiations with Credit Agricole Assurances (CRARY.PK) for the acquisition of La Medicale, Credit Agricole Assurances' insurance subsidiary for healthcare professionals.
The transaction also foresees the sale of Predica's death coverage portfolio, marketed and managed by La Medicale, to Generali France. The transaction is expected to close mid-2022.
For Generali, this acquisition represents a key strategic opportunity for growth, enabled also by good ties with Credit Agricole. The company further noted that the transaction is fully in line with the 'Generali 2021' strategy and it confirms the Group's commitment to deliver profitable growth whilst creating value for customers, consistent with Generali's Lifetime Partner ambition.
Also, the transaction will strengthen Generali's Health and Protection lines and the overall P&C business in France from both a strategic and commercial perspective. It will also boost Generali's health sector ecosystem and the expansion of its general agents network, with over 668 agents and 765 agencies across France.
Copyright RTT News/dpa-AFX
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