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Assicurazioni Generali SpA Eye Exit From US Reinsurance-Reuters


Tuesday, 21 Aug 2012 09:06pm EDT 

Reuters reported that Assicurazioni Generali SpA plans to put its U.S. life reinsurance business up for sale, the Financial Times reported. Citigroup is advising the company on a sale of its Generali USA Life Reinsurance unit, which could be worth as much as $1 billion. The sale process is in its early stages, with potential buyers, which are not named in the article, likely to receive sale documents next month. Generali is the latest European insurer to plan an exit from the U.S. in the face of regulatory concerns and highly competitive market conditions. 

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