Reinsurance News
Generali
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
Generali opens new representative office in Brussels
26th May 2021
Generali has opened a new representative office in Brussels to study the activities of European institutions and strengthen the EU public affairs activities whilst contributing to sustainable recovery and the European Green Deal. The Italian insurer launched a € 3.5 billion plan which will be delivered through a range of funds ... Read the full article
Generali’s Q1 2021 operating result improves to €1.6bn
18th May 2021
Generali has reported a year-on-year improvement in its operating result to €1.6 billion for the first quarter of 2021, driven by a strong performance in the Property and Casualty (P&C), Asset Management, and other business segments during the period. The global insurer's consolidated operating result increased by 11% from the prior ... Read the full article
Generali hires Wekkeli as Head of Property Underwriting, Germany
7th May 2021
Generali’s P&C unit Global Corporate & Commercial (GC&C) has appointed Marc Wekkeli as new Head of Property Underwriting in Germany to further enhance strategy execution. Wekkeli will be responsible for ensuring technical excellence and profitability of the German property portfolio. With over 25 years of international experience in the insurance industry, he ... Read the full article
Generali (GC&C) appoints trio to senior underwriting roles
13th April 2021
Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has announced the appointment of Reto Arrigoni as Global Head of Casualty Underwriting. At the same time, Enrico Mazza has been named as GC&C Italy Head of Underwriting and Tomasz Kukuła as ACEER (Austria, Central and Eastern Europe, ... Read the full article
Generali (GC&C) partners with satellite specialist NHAZCA
26th March 2021
Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has entered into a new partnership with NHAZCA, a spin-off from the Sapienza University in Rome that has expertise in satellite, aerial and terrestrial sensing services. Generali GC&C plans to leverage NHAZCA’s expertise in Satellite SAR (Synthetic Aperture ... Read the full article
Generali partners with YAS on HK passenger microinsurance product
15th March 2021
Italian insurer Generali is partnering with YAS Digital on Hong Kong’s first passenger microinsurance solution. Scope of coverage is extensive, and includes public transportation ranging from buses, mini-buses, trams, cable cars, MTR, and cross-harbour ferriess. RYDE with YAS has been launched to service Hong Kong's high ... Read the full article
Generali’s 2020 profit slides 34% to €1.7bn
11th March 2021
Italian insurer Generali has posted a net profit of €1.7 billion for 2020, down 34% from the €2.6 billion achieved in 2019. The company’s profitability was impacted by a €332 million liability management transaction, a contribution of the Extraordinary International Fund for Covid-19 and €287 million of impairments on investments mainly ... Read the full article
Generali makes senior investment appointments
3rd March 2021
Italian insurer Generali has announced the appointments of Francesco Martorana as Group Chief Investment Officer, Bruno Servant as CEO of Generali Insurance Asset Management (GIAM), and Tim Rainsford as CEO of Generali Investments Partners. In his new position, Martorana will to Sandro Panizza, Group Chief Insurance & Investment Officer, and take ... Read the full article
Generali announces new streamlined structure and promotions
1st February 2021
Italian insurer Generali has announced a new streamlined organisational structure for its 2021 plan along with a number of senior promotions. The structure has been designed to address key strategic priorities for the continued successful delivery of the Generali 2021 plan, whilst preparing the group for its next strategic cycle. It's expected ... Read the full article
Generali’s Urlini re-elected as Chair of Insurance Europe’s GI Committee
12th January 2021
European insurance and reinsurance federation, Insurance Europe, has re-elected Franco Urlini, Group P&C, Claims and Reinsurance Director at Generali, as Chairman of its General Insurance Committee. Having held the position since 2013, Urlini's re-election sees him take on the role for an additional three-years. Insurance Europe seeks to raise awareness to issues ... Read the full article
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