20 July 2018
McCann FitzGerald advises on Sale of Generali Worldwide Operation
We acted as Irish counsel for Generali on the sale of Generali Worldwide Insurance Company Limited and Generali Link Limited.
Generali Worldwide is a Guernsey-based provider of life insurance-based wealth management solutions and contributed about €35m euros to Generali group’s operating result last year. Generali Link, based in Ireland, is a shared-service provider focused on fund and policy information. The agreement will ultimately be worth around €409 million to Generali, with a further €10 million potentially payable on completion.
The transaction is part of the Group strategy to optimize its geographical footprint, increase its operational efficiency and improve capital allocation.
It is subject to, inter alia, regulatory approvals and is expected to be finalized in early 2019.