Generali merges Spanish businesses

The Generali Group is to merge its Spanish subsidiaries Estrella Seguros and Vitalicio Seguros to form Generali Espana SA de Seguros y Reaseguros. Operations under the new name are expected to start by the middle of next year. The merged company will have some 3.2 million clients, and in 2008 their joint turnover amounted to €2.57bn ($3.75bn) while their overall market share was 4.7%.