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Generali completes merger of Portugal units

Written by Adam Cadle
05/10/2020

Following the completion of the acquisition of Seguradoras Unidas S.A. in Portugal in January, Generali has concluded the process of the legal merger of all its 100% owned insurance subsidiaries in Portugal.

Seguradoras Unidas S.A. now incorporates Generali Companhia de Seguros S.A. and Generali Vida Companhia de Seguros S.A. In addition, Seguradoras Unidas has been renamed Generali Seguros S.A.

In January, Generali finalised the acquisition of the Portuguese insurer Seguradoras Unidas and the health services company AdvanceCare from Apollo Global Management Inc. for €600m. The transaction was first announced in July 2019.

Pedro Carvalho will be the CEO of the combined entity in Portugal, directly reporting to Jaime Anchústegui, CEO International of Generali.

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