Reinsurance News

Generali

Generali (GC&C) makes new appointment

24th January 2022

Alejandro Muñiz has joined Generali Global Corporate & Commercial as its new head of construction and green energy. Muñiz’s appointment with the company began on 1 January and is being undertaken In addition to his current role as head of engineering underwriting Iberia & LatAm. In his new position, he will revamp ... Read the full article

Generali outlines new three-year strategy

16th December 2021

Italian insurer Generali has outlined a new three-year strategy to deliver sustainable growth across its core and emerging business lines, enhance its earnings profile, and drive innovation. Under the plan, Generali will enhance its earnings profile, increase the profitability of its Life business, invest € 1.1 billion in technology and digital ... Read the full article

Generali partners with Accenture, Vodafone Business on cyber solutions

15th December 2021

Generali has joined forces with Accenture and Vodafone Business on the creation of cyber insurance services designed to help corporate and SMEs clients more effectively recognize, respond to and recover from cybersecurity threats and incidents. The initiative includes cyber risk assessments, phishing simulations and learning programs. The new services are aligned to ... Read the full article

Generali in talks to acquire La Médicale from Crédit Agricole Assurances

25th November 2021

Italian insurer Generali has entered into exclusive negotiations to acquire La Médicale, the insurance subsidiary for healthcare professionals owned by Crédit Agricole Assurances. Under the terms of the arrangement, Generali France will also acquire Predica's death coverage portfolio, which is marketed and managed by La Médicale. Predica is a life insurance entity ... Read the full article

Generali appoints Wendy Law to lead casualty underwriting in Asia

17th November 2021

Generali Global Corporate & Commercial (GC&C) has announced the appointment of Wendy Law as Head of Casualty Underwriting Asia, a Hong Kong-based role that will see her lead the firm's casualty business in the region. Law joins from Starr Insurance Companies, where she served as the head of liability. During her time ... Read the full article

Generali on track to hit 2021 targets as results up 74%

11th November 2021

Italian insurer Generali has posted a net result of €2.25 billion for the first nine months of 2021, up 73.6% from the €1.30 billion that it reported for the same period last year. The result increased thanks to a corresponding improvement in the group’s operating result, which grew by 10% over ... Read the full article

Generali seals takeover of rival Italian broker Cattolica

4th November 2021

Italian broker Generali has completed its acquisition of rival firm Cattolica in a previously-announced deal that’s intended to enable an eventual merging of the two organisations. Generali, already a significant shareholder, required a controlling stake in the firm in order to lay the regulatory groundwork for its merger plans. The consideration ... Read the full article

Generali takeover offer for Cattolica gets regulatory approval

25th October 2021

Italian insurer Generali has received regulatory approval for the acquisition of a controlling interest in Società Cattolica di Assicurazione. The European Commission has given Generali the green light to make an offer to acquire all the ordinary shares of Cattolica. Further details of the offer have not yet been disclosed. Generali committed to ... Read the full article

Generali CEO commits to €3bn of sustainable investments by 2022

13th October 2021

Italian insurer Generali has committed to investing €3 billion in sustainable and green bonds by the end of 2022, as part of its sustainability objectives. The commitment forms part of a larger climate protection goal for Generali to make between €8.5 billion and €9.5 billion of new green and sustainable investments ... Read the full article

Generali promotes Pedro Ruano to lead global claims

7th September 2021

Generali has named former Head of GC&C Iberia & LatAm Pedro Ruano as Head of Claims, a role that sees him take over the direction of the firm’s claims processes at a global level. Ruano directly reports to Hayden Seach, within the newly created Insurance function, formerly Underwriting function. The new Insurance ... Read the full article

July floods trigger Generali’s reinsurance coverage

3rd August 2021

Italian insurer Generali has confirmed that its July flood losses in Germany have been capped at €100 million, after the disaster triggered the company’s per occurrence reinsurance coverage. Catastrophic flooding and storms across parts of Western and Central Europe last month are expected to drive overall economic losses of over ... Read the full article

European storms weigh on Generali’s H1 P&C results

3rd August 2021

Generali has recorded a 3.6% decrease in its property and casualty (P&C) operating result for the first half of 2021, after booking €218 million of natural catastrophe claims during the period. This compares with €118 million of claims for H1 2020, as losses this year were boosted by a storm in ... Read the full article

Generali sponsors first green catastrophe bond

28th June 2021

Generali has entered into a collateralised multi-year reinsurance agreement with Lion III Re DAC, an Irish designated activity company, that provides cover for losses from windstorms in Europe and earthquakes in Italy over a four year period. As a result, Lion III Re DAC has issued a single tranche of notes ... Read the full article

AXA reaches agreement with Generali over sale of Malaysian insurance operations

22nd June 2021

Global insurer AXA has reached an agreement with carrier Generali to sell its insurance operations in Malaysia, which includes its 49.99% holding in AXA Affin General Insurance (AAGI) and 49% holding in AXA Affin Life Insurance (AALI), for total cash proceeds of €140 million. Generali has agreed to purchase the majority ... Read the full article

Generali completes takeover of AXA’s Greek business

1st June 2021

Generali has completed its acquisition of AXA's Life & Savings and Property & Casualty businesses in Greece, for a total cash consideration of €167 million. Announced back in December 2020, the deal also sees Generali enter into a 20-year exclusive distribution agreement with Alpha Bank. The partnership with Alpha Bank, which ... Read the full article