Stock Groups

Apollo to sell Italy’s Amissima Vita to life insurer Athora By Reuters

by Mike Robinson

[ad_1]

© Reuters.

MILAN (Reuters – U.S.-based private equity firm Apollo Global Management, (NYSE:), has agreed to sell the entire Amissima Via of Italy to Athora Holding Ltd in Bermuda. The Italian insurance company announced this on Thursday.

Amissima, who did not give financial details, stated that it is still subject to regulatory approval. The closing of the transaction is anticipated in the first quarter of 2022.

Athora Holding has assets worth 79.3 billion Euros and is a European-focused life insurance firm.

It purchased the Belgian operations in 2018, and in 2019, the Dutch operations in 2019, of insurance provider Vivat.

Apollo bought Amissima Vita (previously known as Carige Vita Nuova) from Banca Carige.

Generali, Italy’s market leader in insurance will announce a 1.17 billion Euro takeover offer for Cattolica. The bid is expected to begin on October 4.

According to Athora’s website Apollo owns a 6% stake in the company and there are four other board members.

Strategic relationships link the two companies. Athora receives advisory services from Apollo on issues such as direct investment management, asset allocation and due diligence.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include futures, stocks, indexes and Forex. Prices are provided not by the exchanges. They are made by market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]