ALL RIGHTS RESERVED © Copyright ANSA
Generali announced in a statement
that it had struck a deal with Frankfurter Leben for the sale of
Generali Deutschland Pensionskasse AG (GDPK). The transaction
will increase the German and Group Solvency II positions by
about 10 and 1 percentage points, respectively. GDPK, a
professional pension firm established in 2002, with around 2.8
billion euros in capital reserves and 150,000 policies. The
majority of its portfolio was written between 2003 and 2005. The
start of new business in GDPK ended at the end of 2016. The deal
is anticipated to close by the end of 2023.
