Generali raises its stake in Generali China Insurance Company to 100%

GeneraliGenerali has acquired a 51% stake in its joint venture Generali China Insurance Company (GCI). This stake was previously held by its local partner CNPC Capital. The Italian group now becomes GCI's sole 100% shareholder.

The transaction is valued at 99 million EUR (108.3 million USD).

Pending approval by the relevant authorities, the deal will help strengthen Generali's position in the Chinese property-casualty insurance market.

Based in Beijing, Generali China Insurance Company was jointly founded in 2007 by CNPC Capital and Generali to provide non-life insurance products in the country.

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