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Italian insurer Generali has accomplished its acquisition of La Médicale, the insurance coverage subsidiary for healthcare professionals Crédit Agricole Assurances.

In addition to this, Generali has additionally accomplished the acquisition of Predica’s dying protection portfolio, which is marketed and managed by La Médicale. following all vital approvals from the related regulatory and competitors authorities.

The acquisitions had been accomplished following all vital approvals from the related regulatory and competitors authorities.

Talks of the acquisition began in November 2021.

Furthermore, this acquisition is a part of Generali’s technique to strengthen its distribution via brokers and to consolidate its place within the professionals market by buying a particular community of unbiased well being professionals.

Mediobanca Banca di Credito Finanziario S.p.A. and Zaoui & Co. Ltd acted as monetary advisors to Generali for the transaction and Herbert Smith Freehills Paris LLP as authorized advisor.

“The success of this acquisition strengthens our presence in France, considered one of our most essential markets,” stated Philippe Donnet, Generali Group CEO.

“This transaction is according to our ‘Lifetime Accomplice 24: Driving Progress’ strategic plan and permits us to bolster our place within the Well being, Private Safety and Property & Casualty segments whereas extending our Lifetime Accomplice ambition to new prospects. This acquisition additionally demonstrates our capacity to establish exterior progress alternatives in the important thing markets the place we wish to broaden.”

Jean-Laurent Granier, Nation Supervisor France & Europ Help, added: “The inclusion of La Médicale in our scope of exercise strengthens our positioning as a multi-specialist insurer and the important thing position we need to give to tied brokers in our distribution mannequin.

“We’re going to enrich our know-how by strengthening our relationship with unbiased healthcare professionals. On this method, we’ll develop into the Lifetime Accomplice to 300,000 new prospects by offering them with an enhanced vary of insurance coverage and repair options. I wish to welcome the groups and brokers of La Médicale. They may discover new and fulfilling alternatives with us.”