Conning Holdings Limited, a leading global asset manager serving the needs of insurance company and institutional clients, today announced that its acquisition by Generali Investments Holding S.p.A. (GIH), an entity comprising the majority of asset management activities of Generali Group (Generali), has closed.
“We are excited to embark on this long-term partnership with Generali, with identified growth areas and synergies in mind and to leverage our shared insurance industry heritage,” said Woody Bradford, Chief Executive Officer and Chair of the Conning Holdings Limited Board. “Conning’s hallmark is delivering world-class performance and service for clients. This will remain our steadfast focus going forward,” added Bradford.
Conning and its Affiliates will continue to execute their growth strategies with support from their continuing owner, Cathay Life Insurance Co. Ltd. (Cathay) and new owner Generali. Cathay contributed its ownership in Conning and its Affiliates to GIH for a 16.75% share of GIH. As part of this transaction, Cathay has agreed to a minimum 10-year financial commitment in relation to specific insurance assets that will continue to be managed on its behalf by GIH, including Conning and its Affiliates.