MILAN : Italian insurer Generali said its asset management arm had agreed to acquire Connecticut-based rival Conning Holdings as part of a partnership with Cathay Life, a unit of Taiwan's Cathay Financial Holding.
Generali said Cathay Life would become a minority shareholder in Generali Investments Holding, which comprises the majority of the group's asset management activities. Generali and Cathay Life will also enter an asset management agreement for at least 10 years, it said.
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