Assicurazioni GENERALI announced the closing of the sale of its operations both in Panama and Colombia. The operations in Panama were sold to ASSA Compania de Seguros S.A. while the business in Colombia was sold to TALANX Group.

"The final consideration of these two sales is approximately EUR 170 million", as the Italian insurer announced in a statement.

The GENERALI Group will still be present in both countries through its Global Business Lines, or more specifically, GENERALI Employee Benefits, GENERALI Global Corporate & Commercial and GENERALI Global Health as well as through its EUROP ASSISTANCE operations.

These two transactions, that were originally announced during the second half of 2017, are part of the Group's overall strategy to rationalize its international footprint and to improve operating efficiency and capital allocation.