Generali sells its life insurance subsidiary in Germany

Generali has signed an agreement with the German insurer Frankfurter Leben to sell Generali Deutschland Pensionskasse, its life insurance subsidiary in Germany.

The transaction is part of the Italian group's "Lifetime Partner 24: Driving Growth" strategic plan aimed at improving the profitability of its life insurance business, among other things.

Pending the approval of the relevant authorities, the sale is expected to be completed by the end of 2023.