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    G   IT0000062072

ASSICURAZIONI GENERALI S.P.A.

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Generali in Exclusive Talks to Buy Unit From Credit Agricole -- Update

11/25/2021 | 02:20am EST

By Cristina Roca

Assicurazioni Generali SpA is in exclusive talks to buy Credit Agricole SA's La Medicale business, the two companies said late Wednesday.

La Medicale is Credit Agricole Assurances' insurance subsidiary for healthcare professionals.

Generali would also buy the death-coverage portfolio of Predica, a life insurer fully owned by Credit Agricole's insurance business.

La Medicale's annual premiums stood at 552 million euros ($618.3 million) at the end of last year, including EUR80 million in premiums related to Predica's death coverage portfolio.

The deal could value the assets at around EUR400 million, a person close to the negotiations told The Wall Street Journal.

For the Italian insurer, the acquisition would strengthen its position in the French market. For Credit Agricole Assurances, the French bank's insurance unit, the deal would reflect its decision to focus on its bancassurance model of offering insurance through the group's banks, which offers important synergies.

The deal is expected to close mid-2022, the companies said. Any agreement remains subject to consultation with the workers' council and antitrust clearance.

Write to Cristina Roca at cristina.roca@wsj.com

(END) Dow Jones Newswires

11-25-21 0219ET

Stocks mentioned in the article
ChangeLast1st jan.
ASSICURAZIONI GENERALI S.P.A. -1.52% 18.44 Delayed Quote.-1.02%
CRÉDIT AGRICOLE S.A. -0.86% 13.778 Real-time Quote.9.78%
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Analyst Recommendations on ASSICURAZIONI GENERALI S.P.A.
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Financials
Sales 2021 73 314 M 83 681 M 83 681 M
Net income 2021 2 784 M 3 178 M 3 178 M
Net Debt 2021 3 872 M 4 420 M 4 420 M
P/E ratio 2021 10,5x
Yield 2021 5,76%
Capitalization 29 039 M 33 168 M 33 145 M
EV / Sales 2021 0,45x
EV / Sales 2022 0,43x
Nbr of Employees 71 860
Free-Float -
Chart ASSICURAZIONI GENERALI S.P.A.
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Assicurazioni Generali S.p.A. Technical Analysis Chart | G | IT0000062072 | MarketScreener
Technical analysis trends ASSICURAZIONI GENERALI S.P.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 18,44 €
Average target price 19,47 €
Spread / Average Target 5,60%
EPS Revisions
Managers and Directors
Philippe Donnet Chief Executive Officer, MD & Executive Director
Cristiano Borean Chief Financial Officer
Gabriele Galateri di Genola Chairman
Jaime Anch˙stegui Melgarejo Group Chief Operations & Insurance Officer
Maurizio Basso Group Compliance Officer
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