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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Generali | BIT:G | Italy | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.18 | 0.67% | 26.93 | 26.92 | 26.94 | 26.96 | 26.59 | 26.78 | 1,445,087 | 16:00:07 |
From Nov 2022 to Nov 2024
By Cecilia Butini
Assicurazioni Generali said Thursday that it has acquired asset manager Conning Holdings from Cathay Life and has entered into a partnership with the latter.
The Italian insurer said the acquisition will increase its assets under management to $845 billion and reinforce its Asset Management division's strategy. Asset Management will become a global provider of investment solutions with a combined platform of $709 billion in assets under management, according to Generali.
Cathay Life will become a minority shareholder of Generali Investments Holding, which includes the majority of Generali's asset management activities, the insurer said.
Cathay Life is expected to hold 16.75% of the share capital of Generali Investments Holding at the closing of the transaction. Cathay Life will then enter into an asset-management agreement with Generali for a minimum of ten years, the company said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
July 06, 2023 10:22 ET (14:22 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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