Insight and Intelligence on the London & International Insurance Markets 24 Apr 2018

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Generali made EUR196mn profit from Compre run-off deal

  • Catrin Shi 15 March 2018
  • Generali booked a one-off profit of EUR196mn ($243mn) from the sale of its old London market run-off book, according to its full-year 2017 financial disclosures.

    The Italian carrier transferred about EUR300mn in liabilities to legacy acquirer Compre in December 2017.

    As first revealed by this publication, Compre won exclusivity in the sale process for the book in October last year. The deal is the biggest transaction the legacy acquirer has secured to date.

    The portfolio predominantly holds US asbestos, pollution...

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