Munich Re Italian insurance units sold to Cinven* Ergo Italy units sold to Cinven for undisclosed price
* Cinven says plans to acquire, consolidate Italy insurance
FRANKFURT Nov 23 (Reuters) – Munich Re’s insurance unit Ergo has agreed to sell life and property-casualty businesses in Italy to British private equity investor Cinven.
Ergo said on Monday it was selling Ergo Previdenza and Ergo Assicurazioni, with combined premiums of 360 million euros ($383 million), as well as agents network Ergo Italia Direct Network and service business Ergo Italia Business Solutions, for an undisclosed sum.

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