ROME, Jan. 11 (Xinhua) — Italian insurance giant Generali\’s plan to buy out its China-based joint venture is part of a wider strategy to gain market share in China, a company official said.
Generali announced it would pay around 108 million U.S. dollars to acquire the 51 percent share in Generali China Insurance Company Limited.
\”China is a large market, and one Generali intends to continue focusing on,\” a Generali communications official told Xinhua Thursday.
According to its statement, Generali\’s investment will build on China\’s environmental commitments to expand its \”green business insurance\” portfolio.