Generali sells Panama unit for $172mn

Italian carrier Generali has sold its Panamanian division to
Spanish insurer ASSA Compañía de Seguros in a deal worth
$172mn.
The transaction remains subject to regulatory approvals and the
consideration may be adjusted on closure.
Generali has run a Panamanian branch since 1970 and the unit
mainly writes P&C business.
The firm said it would remain active in Panama through ASSA
within the international business lines segments, including its
employee benefits, global corporate a