Apollo Selling Italian Insurance Company Amissima Vita

United States based global investment management company Apollo Global Management (APO) announced having entered into an agreement to sell Italy based insurance company also providing reinsurance services Amissima Vita.

Apollo global will be selling the insurance company to Bermuda based insurance and reinsurance company Athora Holding Ltd.

This sale deal is subject to various regulatory approvals Amissima says that it will be closed on the first half of next year. The company however failed to disclose the financial details of the deal.

Apollo Global acquired Amissima back in 2015 from its previous owner, at the time of the acquisition, Amissima was called Carige Vita Nuova.

According to information on Athora’s website, Apollo owns 6% stake in the company and has four members who sit on the company’s board.

 

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