An official from Italian insurance company Generali has revealed that the company’s decision to purchase its China-based joint venture forms part of a broader strategy to increase its market share in China.
Generali has announced that it will pay approximately 108 million U.S. dollars to acquire the 51 percent share in Generali China Insurance Company Limited.
“China is a large market, and one Generali intends to continue focusing on,” a Generali communications official told Xinhua on Thursday.
According to the company’s statement, Generali’s investment will capitalize on China’s environmental commitments and help to grow its “green business insurance” portfolio.
