According to individuals with knowledge of the situation, a number of multinational organisations are competing to acquire TUA Assicurazioni from Generali (GASI.MI), as Italy’s biggest insurer looks to streamline assets inherited in a purchase in 2021.
The sources estimate that the 2003-founded non-life company TUA Assicurazioni is worth about 300 million euros ($335 million). TUA was purchased by Generali as part of its agreement to acquire smaller rival Cattolica two years ago. TUA offers policies covering categories such as automobile, house, and health.
German insurance giant Allianz (ALVG.DE), fellow German insurer Talanx (TLXGn.DE), and France’s Groupama were cited as potential buyers by two sources.