Generali to acquire AdvanceCare and Seguradoras Unidas from Apollo Global for €600m.

Generali, an Italian insurance company, agreed to acquire AdvanceCare and Seguradoras Unidas, two Portugese insurance companies, from Apollo Global for €600m ($673m). The acquisition of the two assets is consistent with Generali’s capital redeployment strategy in disciplined M&A to support profitable growth. "With the acquisition of Seguradoras Unidas, Generali will become the second largest group in the Portuguese non-life segment. The transaction will enable us to optimise our strategic positioning in the country, to capture future growth opportunities, to achieve significant cost synergies through the integration of Generali Portugal and Seguradoras Unidas and to ensure the operational solidity of Europ Assistance in the Portuguese market," Jaime Anchústegui Melgarejo, Generali CEO International.