Assicurazioni Generali announces Italian merger and Spanish bank investment

Assicurazioni Generali has announced a series of strategic moves to optimize its corporate structure and expand its European market presence. In Italy, the group has approved the merger by incorporation of its subsidiary, Alleanza Assicurazioni S.p.A., into Generali Italia S.p.A. This consolidation aims to streamline operations while preserving the Alleanza brand, identity, and distribution network. The process is expected to conclude in the first half of 2027, subject to regulatory approval from IVASS.

Simultaneously, Generali is expanding its footprint in Spain through its subsidiary, Generali España. The insurer has agreed to invest 150 million euros to acquire approximately a 9.9% stake in Banco de Crédito Cooperativo (BCC), the holding company for Grupo Cooperativo Cajamar (GCC). This investment strengthens a bancassurance partnership that has existed for over two decades and aligns with the group’s ‘Lifetime Partner 27: Driving Excellence’ strategy. The transaction is slated for completion in the second half of 2027, pending regulatory approvals, and is not expected to have a material impact on the group's solvency levels.