Reinsurance News
Generali
Generali reveals new organizational structure
18th April 2024
The Board of Directors of Generali, chaired by Andrea Sironi, has approved a new organizational structure to reflect its main activities proposed by Philippe Donnet, Group Chief Executive Officer. Effective June 1st 2024, the Generali Group will operate as a diversified financial group focused on two main businesses, namely Insurance and ... Read the full article
Generali completes acquisition of Conning Holdings
3rd April 2024
Generali has completed the acquisition of Conning Holdings Limited (CHL) and its affiliates from Cathay Life, a subsidiary of Cathay Financial Holdings, one of the largest Asia-based financial institutions. The acquisition includes Conning, focused on insurance and institutional fixed income, and its affiliates Octagon Credit Investors (bank loans, CLOs and specialty ... Read the full article
Generali reports record operating result of €6.9bn as P&C combined ratio strengthens
12th March 2024
Italian insurer Generali generated a record operating performance of €6.9 billion in its full year 2023 results, an increase of 7.9% as a result of a positive contribution from all segments, led by Property & Casualty (P&C). Group-wide, the insurer has reported an "excellent" new business margin of 5.78%, and a ... Read the full article
Generali and UNDP launch various initiatives to boost resilience in Asia
8th March 2024
In efforts to help boost small and medium-sized enterprises (SMEs) resilience against climate change and other risks in Asia, Generali and United Nations Development Programme (UNDP) have launched a joint report detailing key risks and alternative approaches to insurance. The report titled “Building MSME Resilience in Southeast Asia” found that SME ... Read the full article
Allianz completes acquisition of Tua Assicurazioni from Generali
5th March 2024
Allianz, a leading insurer and asset manager, has completed the acquisition of Tua Assicurazioni S.p.A. from Assicurazioni Generali S.p.A., an Italian global insurance and asset management provider. The acquisition was announced in October 2023, and the transaction was completed at a consideration of €280 million. The transaction is in alignement with ... Read the full article
Veteran Carlos Gomez named GC&C Head of Insurance
8th February 2024
Generali Global Corporate & Commercial (GC&C), subsidiary of the Italian insurance giant, has announced the appointment of Carlos Gomez as the new Head of Insurance, effective January 30, 2024. In his new role, Gomez will lead and oversee GC&C activities related to the entire insurance process. He will foster corporate portfolio management, ... Read the full article
Generali completes acquisition of Liberty Seguros
2nd February 2024
Italy-headquartered insurer Generali has completed the acquisition of Liberty Seguros, Compañia de Seguros y Reaseguros, S.A., from Liberty Mutual Insurance The transaction was originally announced on June 15, 2023, and it represents Generali's largest transaction in ten years. It was reported that Liberty Mutual would sell its personal lines and small ... Read the full article
Generali’s position strengthened by recent acquisitions: CEO Donnet
30th January 2024
Generali Group CEO, Philippe Donnet, has suggested that the firm's recent acquisitions have further strengthened its position as a leading European insurer while also expanding its Asset Management business globally. According to Generali, the acquisition of Liberty Seguros, announced in June 2023, will enhance the firm's competitiveness and will contribute ... Read the full article
Generali places sixth and seventh green bonds
18th January 2024
Italian insurer Generali has successfully concluded the placement of its sixth and seventh green bonds, two new Euro denominated senior bonds due respectively in January 2029 and in January 2034. Following this transaction, the insurer has issued a total of eight bonds with environmental, social, and corporate governance (ESG) features, ... Read the full article
Generali strengthens presence in China with full acquisition of Generali China Insurance
10th January 2024
Generali has signed an agreement to acquire the remaining 51% stake in Generali China Insurance Company Limited (GCI), making it the sole owner of the property and casualty insurance business in China. The deal, valued at approximately €99 million, marks a significant step in Generali's strategic expansion in key Asian markets. The ... Read the full article
MSCI ESG recognises Generali as leader in sustainability
13th December 2023
MSCI, the index that measures companies' resilience to ESG risks, recognises Generali’s sustainability leadership as it confirms the Italian insurer’s "AAA" ESG rating. The MSCI analysis, involving more than 8,500 companies, has once again assigned Generali the highest possible score, which the Group also received in 2022. MSCI's assessment highlights the insurer’s ... Read the full article
Renewing aggregate reinsurance is likely to be challenging for Italian insurers: Berenberg
8th December 2023
Following a heavy year of losses, renewing aggregate reinsurance will likely be a challenge for Italian insurers, according to insights from investment bank Berenberg. Analysts believe the greatest challenge insurers in Italy will face in 2024 is pricing for non-motor insurance, following the exceptionally high €2.5bn hailstorm losses in the country ... Read the full article
Generali reports 4.7% increase in GWP to €60.5bn for 9M’23
17th November 2023
Italian insurer Generali has reported gross written premiums (GWP) of €60.5 billion for the first nine months of 2023, as its combined ratio strengthened by 3.1 percentage points to 94.3%. Generali attributes the growth in GWP to strong growth in its P&C business, which saw premiums expand 11.4% year-on-year to €23.4 ... Read the full article
Generali Ventures underway with dedicated commitment of €250m
31st October 2023
Generali has announced that Generali Ventures, the firm's strategic innovation initiative in venture capital fund, is underway, with a dedicated commitment of €250 million, as it plans to "identify the most promising investment opportunities, with a particular focus on the insurtech and fintech sectors." Launched in 2022, after an in-depth analysis ... Read the full article
Generali sees nine month catastrophe losses exceed annual budget: Reuters
19th October 2023
Italian insurer Generali is set to report catastrophe losses of around $888 million (EUR 840 million) for the first nine months of 2023, exceeding its budget for the full year, according to a Reuters report. Reuters reports that during an event held today in Munich, the global insurer's Group Chief Financial ... Read the full article