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July 6, 2023

Hartford-based Conning to be acquired by Italian investment firm

Photo | Contributed Conning's office in downtown Hartford.
By Andrew Larson

Hartford-based investment management firm Conning announced Thursday that it will be acquired by the Italian company Generali Investment Holdings.

Conning, which has offices in Boston and New York City in addition to its headquarters in Hartford’s Gold Building, is currently owned by Cathay Financial Holdings, based in Taiwan.

The deal is expected to close in the first half of 2024. 

Conning and its affiliates will continue to operate under their current leadership and brands, according to the announcement. 

“We believe this transaction provides stability for our clients and employees, maintains continuity of leadership and strategy and will generate new collaboration opportunities with Generali and its affiliates to strengthen both firms,” said Woody Bradford, CEO and chair of the Conning Holdings Limited Board. 

Conning will continue a long-term partnership with Cathay Life, which will remain a shareholder, the announcement says.
 
Conning, which provides services focused on the insurance industry, had more than $157 billion in global assets under management as of March 31. The company was founded in 1912.

Generali Group, established in 1831, is one of the largest insurance and asset management providers in the world. It operates in more than 50 countries and has 82,000 employees.

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