European Commission approves Allianz's acquisition of Tua Assicurazioni

The European Commission has given the green light to Allianz's acquisition of Tua Assicurazioni, the non-life subsidiary of the Generali Group.

The transaction does not raise any competition concerns, according to the Commission.

For the record, Generali and Allianz signed an agreement in 2023 for a transaction valued at 280 million EUR (306.6 million USD). The acquisition is expected to be finalized in the first quarter of 2024.