Italy's Generali to sell Fata Danni for 179 mln euros

MILAN Wed Nov 20, 2013 2:52pm EST

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MILAN Nov 20 (Reuters) - Italy's Generali said on Wednesday it had signed an agreement to sell its Fata Assicurazioni Danni unit, which focuses on agricultural risks, for 179 million euros ($241 million).

The deal allows the Italian insurer to further strengthen its liquidity and capital position and improve its Solvency I ratio by 0.6 percentage points, Generali said in a statement. ($1 = 0.7428 euros) (Reporting by Francesca Landini; editing by Agnieszka Flak)

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