Generali buys U.S. asset manager Conning under deal with Cathay Life

Cathay Financial Holding

06/07/2023 15:00

MILAN, July 6 (Reuters) - Italian insurer Generali
 GASI.MI  said its asset management arm had agreed to acquire
Connecticut-based rival Conning Holdings as part of a
partnership with Cathay Life, a unit of Taiwan's Cathay
Financial Holding  2882.TW .
    Generali said Cathay Life would become a minority
shareholder in Generali Investments Holding, which comprises the
majority of the group's asset management activities.
    Generali and Cathay Life will also enter an asset management
agreement for at least 10 years, it said.    

 (Reporting by Gianluca Semeraro; writing by Valentina Za
Editing by Keith Weir)
 ((valentina.za@thomsonreuters.com; +39 02 6612 9526;))