Generali To Sell $50B German Life Portfolio
Italian insurer Generali has put its $50 billion German life insurance portfolio up for sale as it restructures in Europe , according to Reuters. “A sale of certain portfolios within the German perimeter could be just one of several strategic options we said we would evaluate” – a Generali spokesman said on Wednesday, while Morgan Stanley, which is evaluating options on behalf of the insurer, declined to comment. One reason for this move is that German life insurance has a negative outlook due to low investment yields. Also, sources say that the insurer is hoping for a purchase price of 900 million euros for the portfolio, but that bidders value the business at closer to 400-600 million euros. All this while seeking detailed CVs with “motivational letters”. Look.