Athora Completes Acquisition of Generali Belgium

Athora has announced that it has completed the acquisition of Generali Belgium. The final consideration paid is approximately €540m. The Company will be rebranded to Athora Belgium prior to the end of the second quarter of 2019.

“The completion of this transaction is another milestone in our journey to create a leading European long-term insurance and reinsurance business. Athora now has a stable, efficient and scalable platform to serve our operations in Belgium and to drive growth. The Belgian market offers opportunities for Athora to continue to develop the Company’s retail insurance business and we are looking forward to building on Generali Belgium’s 117 years of invaluable history and experience.”- Athora Group Managing Partner Michele Bareggi.

After adjusting for the Acquisition, Athora has approximately €15 billion of consolidated assets, roughly 800,000 policyholders, and nearly 800 employees across five jurisdictions.

“With the arrival of Athora, we are entering into a new chapter in the Company’s long history in Belgium and it is important that Athora provides continuity for our broker partners and customers. We have strong ambitions for our business lines and we will continue to invest in our relationship with brokers so that they have the tools to offer competitive products and services to customers. The Company remains a Belgian regulated entity and its insurance policies will stay in Belgium.” – Generali Belgium’s Interim CEO Dorsan van Hecke.