Generali Acquisition Creates Powerful Offshore Insurance Business

A powerful international offshore insurance business - Generali International Limited - has been created in Guernsey through the recent acquisition of the Sun Alliance Life Assurance Company Limited by Guernsey-based Generali Worldwide, part of the multi-national Generali Group.

Generali is Europe's 40th largest company by market capitalisation and the seventh largest insurance company in the world. The group has assets in excess of US$80 billion and is represented in 40 markets in five continents. The new Guernsey business created by the acquisition employs over 100 people and becomes part of a Generali offshore operation that has shareholder equity in excess of US$250 million and assets in excess of US$1.5 billion.