Italian insurer Generali is exiting the Philippine market to focus on regions where it holds a dominant presence.
In a statement, InLife said this strategic move aligns with its vision to bolster its capabilities, achieve business synergies, and expand its end-to-end corporate product suite.
The transaction is expected to be completed by the first half of 2025, subject to the necessary regulatory approvals, it said.
“This acquisition is a proud moment for InLife as it demonstrates our capability and resolve to further expand and innovate while remaining steadfast to our mission of serving the insuring public,” said InLife executive chair Nina D. Aguas.
She said the move underscores InLife’s financial strength as a 114-year-old company, showcasing its solid equity position and risk-based capital.
The acquisition is expected to enhance InLife’s distribution channels and provide access to a broader range of insurance solutions.
Aguas noted that as a homegrown company acquiring a foreign entity, InLife is poised to cement its leadership in the life insurance sector and deliver unparalleled value to policyholders and communities.
The integration will leverage the combined expertise of both organizations’ teams, enabling InLife to offer world-class services and innovative insurance solutions.
This acquisition not only highlights InLife’s growth trajectory but also reflects its commitment to elevating the Filipino insurance landscape while honoring its legacy as a trusted, enduring institution, the company said in the statement.
