Reinsurance News

Generali

Generali, Accenture form tech-focused joint venture

16th December 2020

Generali and professional services firm Accenture have created a joint venture designed to leverage cloud technologies and shared technology platforms, in an effort to accelerate the Italian insurance giant’s digital strategy. In addition to holding a 5% ownership stake in Group Operations Service Platform (GOSP) Accenture will provide the venture with ... Read the full article

Generali (GC&C) names Head of Financial Lines Underwriting in Asia

15th December 2020

Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has announced the appointment of Zaid Alami as Head of Financial Lines Underwriting Asia. Based in the regional hub in Hong Kong, he will be responsible for leading the financial lines business across the region. Alami has nearly a ... Read the full article

Generali’s net profit dips 40% but operating result spikes on P&C improvement

13th November 2020

Generali has reported a 40% decline in Group net profit for the first nine months of the year to approximately €1.3 billion, while gross written premiums (GWP) increased slightly, year-on-year, to roughly €52 billion. The Group's net profit was impacted by €310 million in net impairments on investments related to the ... Read the full article

Macif, Generali & CVC to join bidding war for Aviva’s French business

26th October 2020

Reports suggest that mutual insurer Macif and a consortium consisting of Generali and investment firm CVC Capital Partners are readying their bids for an acquisition of Aviva’s business in France. Last month, sources at Reuters said a consortium of Allianz and life re/insurer Athora Holding were in talks to takeover ... Read the full article

Generali enters partnership with Munich Re’s ALLFINANZ

22nd October 2020

Italian insurer Generali has announced a partnership with ALLFINANZ, Munich Re’s insurtech subsidiary. Adopting ALLFINANZ will help Generali to improve the accuracy of its life insurance underwriting decisions by enabling it to automatically manage life insurance applications globally. By harnessing ALLFINANZ, Generali will automate each phase of its life insurance application process, ... Read the full article

Generali (GC&C) appoints Alan Moore as UK Branch General Manager

13th October 2020

Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has announced the appointment of Alan Moore as UK Branch General Manager. Reporting to CEO Manlio Lostuzzi, Moore will also retain his current role as Head of GC&C UK. Moore has 25 years’ experience in the re/insurance sector, ranging ... Read the full article

Generali (GC&C) appoints Head of Underwriting in Asia

17th September 2020

Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has announced the appointment of Brendan McDonald as Head of Underwriting for Asia. McDonald joined Generali in 2018 as Head of Financial Lines Underwriting for GC&C Asia. Prior to that, he was Head of Liability at Oman Insurance Company ... Read the full article

AXA eyeing $177mn sale of Greek business to Generali: reports

17th August 2020

AXA is reportedly considering the sale of its Greek operations to Itay’s Generali after an estimated value of $177 million was placed on the unit by parties from both companies. Bloomberg, citing people familiar with the matter, describe the move as an opportunity to relinquish business lines deemed surplus to requirements. Representatives ... Read the full article

Generali profits down 57% after pandemic disruption

30th July 2020

Italian insurer Generali has posted a 56.7% decrease in net profit in the first half of 2020 due to disruptions in the investment markets caused by COVID-19, as well a large contribution to a pandemic emergency fund. The group’s profit fell by to €774 million in H1 2020, compared with €1.79 ... Read the full article

Generali & Eurochambres sign MoU to promote ‘Pandemic Risk Pool’

23rd July 2020

Italian insurer Generali Group has signed a Memorandum of Understanding (MoU) with Eurochambres under which the pair have agreed to cooperate in order to both promote and implement a 'Pandemic Risk Pool' against future pandemic risks in Europe. Eurochambres is the European entity of Chambers of Commerce and Industry, representing over ... Read the full article

Munich Re insurtech subsidiary partners with Generali Indonesia

16th July 2020

Munich Re Automation Solutions, an insurtech subsidiary of the global reinsurer, has joined forces with life insurer Generali Indonesia in an effort to help boost the latter's underwriting process and streamline the risk assessment process. Reports from Fi News suggest Munich Re AS will provide its cloud-based business, digital underwriting and ... Read the full article

Generali to become a major shareholder of Cattolica via strategic partnership

25th June 2020

Generali Group has committed to becoming a major shareholder of Cattolica Group through a reserved share capital increase for €300 million, as the pair announce the launch of a new strategic partnership. The Board of Directors of both companies recently approved the launch of a strategic partnership between the pair, which ... Read the full article

Generali Global Business Lines establishes new organisational structure

4th June 2020

Generali Global Business Lines (GBL) and Generali Global Corporate & Commercial (GC&C) has announced a series of key appointments and changes to organisational structure. Within GC&C, Samuele Borghi joins as Head of Global Corporate & Commercial ACEER, directly reporting to Manlio Lostuzzi and also to the Chief Insurance Officer Property & ... Read the full article

Allianz & Generali eyeing life asset divestment: reports

28th May 2020

European insurance giants Allianz and Generali could be preparing to sell billions of euros of life insurance assets in order to free up capital amid the COVID-19 pandemic, according to reports from Bloomberg. Sources told the publication that Allianz has been working with Morgan Stanley to divest as much as €9 ... Read the full article

Generali posts €113m Q1 profit, €655m COVID-19 investment hit

21st May 2020

Italian insurance giant Generali has announced a first quarter net profit of €113 million despite the COVID-19 pandemic driving an investment loss of around €655 million. This €113 million net profit is down from €744 million in the prior year quarter and includes a non-operating expense amounting to €100 million from ... Read the full article