- Generali Switzerland Holding Ltd. agrees to sell its Liechtenstein-based subsidiary, Fortuna Life Insurance Ltd., to FWU AG.
- This divestment is part of Generali Switzerland’s strategy to focus on its core Swiss market and increase operational efficiency.
- The approval process is expected to be completed by beginning of 2017.
Generali Switzerland Holding Ltd. has executed a binding agreement for the sale of its subsidiary, headquartered in Vaduz, Fortuna Life Insurance Ltd. to FWU AG, a German financial services provider.
After putting Fortuna Life Insurance Ltd. fully in run-off in 2015, Generali Switzerland decided to sell it consistently with its strategy to focus on its core Swiss insurance activities and to increase its operational efficiency.
FWU AG is committed to maintain full continuity in the business relationships between Fortuna Life Insurance Ltd. and its policyholders.
The transaction remains subject to completion of certain contractual conditions, as well as the approval by relevant authorities. The approval process is expected to be completed by beginning of 2017.