Generali to acquire a 24.4% stake in Cattolica for $337m.

Generali, the largest Italian insurance company, agreed to acquire a 24.4% stake in Cattolica, an Italian insurance company, for €300m ($337m). "The strategic partnership with Cattolica represents a unique opportunity currently in Italy for profitable growth in asset management and innovative services for P&C customers, pillars of our 2021 Life-time Partner strategy. This allows us to extend our health and telematic services to the more than 3.5m Cattolica customers, thanks to the innovative platforms of Generali Welion and Generali Jeniot. Becoming a major shareholder represents an opportunity to be part of Cattolica’s financial strengthening and its transformation into a joint-stock company," Marco Sesana, Generali Italia and Global Business Lines Manager and CEO.