(Alliance News) - Generali on Wednesday announced that it has completed the acquisition of Liberty Seguros, Compañia de Seguros y Reaseguros, S.A., a Spanish insurance company operating in Spain, Portugal, Ireland and Northern Ireland, from Liberty Mutual. The transaction was announced on June 15, 2023.

"The transaction is fully in line with Generali's 'Lifetime Partner 24: Driving Growth' strategic plan and will improve the Group's earnings profile, strengthen the Non-Life business, and reinforce its leadership in Europe," the note reads.

Following the closing of the deal, Liberty Seguros' new board of directors appointed Carlos Escudero as new CEO and Pedro Carvalho as Branch Manager of Liberty Seguros' subsidiary in Portugal.

Generali closed the session in the green by 0.7 percent to EUR20.69 per share

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.