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Generali buys Portuguese insurer for $574 million

Posted On: Jul. 19, 2019 6:17 AM CST


Italy-based Assicurazioni Generali S.p.A. is buying Portuguese nonlife insurer Companhia de Seguros Tranquilidade S.A. for €510 million ($574 million) from U.S.-based Apollo Global Management LLC., Reuters reported citing sources. Generali purchased Tranquilidade as part of its plans to expand its operations in Portugal.

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