Generali boosts capital with sale of German unit

Generali’s sale of its German life insurance subsidiary, Generali Leben, will bolster the insurance group’s Solvency II ratios and reduce its interest rate risk exposure. 

The Italian insurance giant agreed to sell its German life business to Viridium Gruppe on July 5 for €1 billion ($1.2 billion) and €882 million of hybrid loan repayments. Generali anticipates offloading the unit will increase the ratio of available funds to its Solvency II solvency capital requirement (SCR) at its German