Generali to Sell Irish P&C Operations to Zurich Insurance
By Elena Vardon
Assicurazioni Generali reached a deal to sell its property-and-casualty operations in Ireland and Northern Ireland to Zurich Insurance for roughly 337 million euros ($391.5 million) in cash.
The Italian insurer on Monday said that the disposal of these subsidiaries--which are branches of Generali Spain and carry out business under the RedClick brand--aligns with its plan to focus on core markets where it holds scale and a leading presence.
Around 51 million euros in excess capital currently allocated to Irish property and casualty operations will be retained by Generali Spain, it added.
The transaction, which is subject to approvals, should result in a capital gain for the group upon closure. The impact on its adjusted earnings per share will be immaterial and the hit to its solvency II ratio is estimated to be around 1 percentage point, it said.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
March 09, 2026 05:37 ET (09:37 GMT)
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