MILAN (Reuters) – Italian insurer Generali said on Tuesday that it had agreed to sell its U.S. life reinsurance business to France's Scor for 579 million euros ($750 million) as it continues to target the sale of non-core assets.
Earlier this year, Generali's new chief executive, Mario Greco, pledged to raise 4 billion euros from non-core asset sales by 2015 to shore up capital and restore value.
Europe's third-largest insurer is also seeking to dispose of its private bank BSI but potential buyers think it is worth less that its CHF 2.3 billion ($2.44 billion) book value.
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