Covéa finalizes the sale of its stake in two Italian joint ventures

CovéaCovéa has received approval from the competent authorities regarding the sale of its stake in the capital of two Italian joint ventures to Banco BPM.

The deal includes an 81% stake in the capital of Bipiemme Vita and Bipiemme Assicurazioni.

The transaction is valued at 309.4 million EUR (316.1 million USD).

This operation is in line with Covéa's strategy aimed at refocusing its international activities and making reinsurance its main development lever overseas.

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