Generali to sell its life insurance subsidiary in the Philippines

Generali has signed an agreement with Philippine insurer The Insular Life Assurance Company for the sale of its 100% stake in Generali Life Assurance Philippines.

The transaction is part of the Italian group's “Lifetime Partner 24: Driving Growth” strategic plan, which is aimed at stimulating sustainable growth, improving its earnings profile and optimizing its geographic footprint by focusing on markets where it holds a leading position.

Pending regulatory approval, the sale is expected to be finalized in the first half of 2025.