Generali Belgium, the business sold by Generali Group, has officially rebranded to Athora Belgium following a lengthy period of integration started last year when the deal was announced.
Athora operates in the European insurance market, offering services across acquisition, portfolio transfer and reinsurance. Its principal operational subsidiaries are Athene Lebensversicherung AG in Wiesbaden, Aegon Ireland PLC in Dublin, and Athora Life Re, a reinsurer based in Bermuda. The sale was completed on 2 January this year. Generali Belgium had six months from that date to rebrand to Athora Belgium.
Since April 2018, a joint committee comprising representatives from Generali Group, Generali Belgium and Athora have worked to evolve the integration programme, including how to seperate systems from the Generali Group, staging changes ready for the implementation of the sale, and working to combine business cultures.
For Athora, the deal is positioned as part of its longer term plans for Belgium as well as combining organic growth with acquisitions. The group business claims some €2.2bn in "unconditionally committed capital" from institutional investors targeting consolidation of European insurance and reinsurance providers.