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Generali to buy about 9.9% stake in BCC for €150 million
Generali said the deal is aimed at deepening its more than two-decade bancassurance partnership with Grupo Cooperativo Cajamar in Spain.
Italian insurer Generali agreed to acquire an approximately 9.9% stake in Banco de Crédito Cooperativo (BCC), the holding entity of Grupo Cooperativo Cajamar, for €150 million, Reinsurance News reported.
The insurer said the investment is intended to strengthen strategic alignment with GCC and expand Generali’s position as an insurance partner in Spain, while marking an additional step in their more than two-decade bancassurance relationship.
Generali also linked the move to its “Lifetime Partner 27: Driving Excellence” strategy, which targets accelerated growth across key European markets where it has scale and market leadership, supported by customer franchises and long-term partnerships.
In comments carried by Reinsurance News, Generali Group Deputy CEO Giulio Terzariol said the partnership with GCC has delivered strong growth and customer value over more than two decades and that the investment reflects confidence in the long-term potential of the relationship.