Poste Vita and Generali have entered an agreement to co-invest in European real estate markets.

The two Italian insurers said they have signed a framework agreement and will each commit €200m.

Generali Real Estate, a subsidiary of Generali Group, will manage and develop investments.

In a joint statement, Poste Vita and Generali said: ”The agreement represents an innovative initiative and a unique opportunity for the two institutional investors to share strategies and selection criteria for investments, generating significant synergies in the real estate sector.”