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

MILAN Wed Nov 20, 2013 2:56pm EST

A view of Generali headquarters in Rome April 6, 2011. REUTERS/Remo Casilli

A view of Generali headquarters in Rome April 6, 2011.

Credit: Reuters/Remo Casilli

MILAN (Reuters) - Italy's Generali (GASI.MI) 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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