European Commission clears sale of insurance assets by Italy's UnipolSai to Allianz

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The European Commission has cleared the sale of UnipolSai Assicurazioni S.p.A.'s nonlife insurance assets to Allianz S.E., Reuters reported.

Italy's Unipol had recently agreed to sell assets with premiums valued at around €1.1 billion ($1.5 billion) to Allianz. Unipol had been ordered by Italy's antitrust body to sell assets with premiums worth around €1.7 billion after it agreed to acquire Fondiaria-SAI S.p.A. in 2012, reports Reuters.

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