Generali, BFF Financial institution and France’s BPCE have progressed to the subsequent stage of the bidding course of to accumulate GamaLife from Apax Companions, reported Reuters, citing two acquainted sources.
Apax Companions is aiming for a valuation near €600m for the European life insurance coverage consolidator.
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Purchase-out group Apax Companions expects to obtain binding gives within the coming weeks, with the aim of reaching an settlement in early 2026, the sources mentioned.
BFF, BPCE and Generali declined to supply feedback, reported Reuters.
GamaLife, primarily based in Lisbon, Portugal, was established in 2019 by Apax Companions.
In 2022, GamaLife acquired Zurich Insurance coverage Group’s Italian life and pensions portfolio, which included life insurance coverage insurance policies and pension funds amounting to €7bn.
In 2023, Reuters reported that Generali had introduced the acquisition of the Spanish arm of Liberty Mutual, a US insurer, for €2.3bn.
On the time, Generali indicated that the transaction was anticipated to lower its group regulatory solvency ratio by 9.7 proportion factors. Citigroup and Credit score Suisse acted as monetary advisers for the deal.
Earlier this yr, BPCE agreed to accumulate Novo Banco. Novo Banco has a distribution cope with GamaLife, the media outlet reported.
This month, Generali introduced the appointment of Giulio Terzariol as director generale – group deputy CEO, reflecting modifications in its government workforce.
In accordance with the corporate, this adjustment is related to its Lifetime Associate 27: Driving Excellence technique and goals to enhance governance throughout its fundamental enterprise areas.
Terzariol is chargeable for overseeing Generali’s insurance coverage operations and Banca Generali, in collaboration with the group CEO.
In October 2025, Alleanza Assicurazioni and Banca Generali shaped a partnership to increase their choices by way of ‘insurbanking’ options.
This partnership is designed to combine Alleanza’s distribution community with Banca Generali’s experience in personal banking and funding.
