October 22, 2018 / 2:32 PM / 22 days ago

Generali buys Polish asset manager Union Investment TFI

The Generali Tower designed by Iraqi-British architect Zaha Hadid is seen at Milan's CityLife district, Italy August 14, 2018. REUTERS/ Stefano Rellandini

MILAN (Reuters) - Italy’s top insurer Generali (GASI.MI) has bought Polish asset manager Union Investment TFI, to strengthen its position in Central and Eastern Europe.

The insurer bought a 100 percent stake of the company, whose asset under management amount to 3.3 billion euros ($3.8 billion), Generali said in a statement.

The value of the transaction was not disclosed.

($1 = 0.8712 euros)

Reporting by Giulio Piovaccari

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