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Generali sells operations in Panama, Colombia

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Italy-based insurer Assicurazioni Generali S.p.A. has sold its operations in Colombia and Panama as part of its strategic plan to leave less profitable markets, MarketWatch reported. The insurer said that the two sales were worth €170 million ($209.5 milllion). Panama-based insurer Assa Compania de Seguros S.A. purchased Generali's local operations, while German insurer Talanx A.G. acquired Generali's business in Colombia. Generali plans to retain a presence in both countries through its global business lines.

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