Zurich to buy Generali's Irish non-life unit for $389m [Yahoo! Finance]
ZURICH INS GROUP S/ADR (ZURVY)
NASDAQ:AMEX Investor Relations:
zurich.com/en/investor-relations
Company Research
Source: Yahoo! Finance
The transaction is valued at €337m in cash, with final adjustments expected at completion. Generali Spain will retain an additional €51m of excess capital related to its Irish property and casualty (P&C) operations. The company has indicated that this divestment supports its strategy of focusing on core markets where it already has significant scale. Generali anticipates a capital gain from the sale, which will be confirmed once the deal concludes. The impact on the group's adjusted earnings per share is expected to be negligible, while the transaction should increase its Solvency II Ratio by around one percentage point. The acquisition aligns with Zurich's retail strategy in the Europe, Middle East and Africa (EMEA) region and is expected to strengthen its competitive position in Ireland. Zurich's presence in Ireland dates back more than 75 years. Completion of the deal is subject to legal and regulatory approval and is anticipated in late 2026 or early 2027. Zurich
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