Reinsurance News

Generali

Generali (GC&C) partners with Descartes on parametric insurance

14th May 2020

Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has partnered with insurtech firm Descartes Underwriting to offer parametric insurance products. Descartes specialises in weather risk modelling and data-driven risk transfers and acts as a risk advisor, backed by independent private equity firm BlackFin Capital Partners. The partnership ... Read the full article

Generali profits rise 16% with growth across all segments

13th March 2020

Italian re/insurer Generali has increased its net profit by 15.7% to €2.67 billion in 2019, thanks to the positive performance of all of its business segments. This included a 3.3% increase in the operating result of the property and casualty (P&C) segment, which stood at €2.06 billion for the year, versus ... Read the full article

Nationwide, Generali announce joint venture

26th February 2020

US-based insurance and financial services provider Nationwide is partnering with Generali on a joint venture aimed at supporting multinational solutions for international commercial clients. N2G Worldwide Insurance Services, LLC will exclusively promote, distribute and administer insurance solutions for multi-national exposures on behalf of both organisations. Business to N2G will be sourced through ... Read the full article

Generali signs up to UN net-zero emissions pact

23rd January 2020

Italian re/insurer Generali has joined the Net-Zero Asset Owner Alliance, an international group of institutional investors that have committed to decarbonise their portfolios to net-zero emissions by 2050. Convened by the United Nations (UN), the Alliance aims to help avoid a global temperature increase above the 1.5°C Paris target. To achieve this ... Read the full article

Generali finalises purchase of Apollo units in Portugal

8th January 2020

Italian re/insurer Generali has finalised its acquisition of Seguradoras Unidas and the service company AdvanceCare from Apollo Global Management, Inc. in Portugal. The transaction, first announced in July 2019, sees Generali acquire 100% of Seguradoras Unidas for €510 million and AdvanceCare for €90 million. The companies were bought from Calm Eagle ... Read the full article

Generali announces distribution agreement in Argentina with Mercado Libre

4th December 2019

Italian insurance giant Generali, via its Argentinian subsidiary La Caja, has entered into a new distribution agreement with large South American e-commerce operator, Mercado Libre. The agreement sees Generali distribute motor and home policies through Mercado Libre's digital portal, enabling Mercado Libre's customers to be able to prepare quotes and underwrite ... Read the full article

Generali profits up with improvements across segments

7th November 2019

Italian insurance giant Generali has posted 16.6% growth in net income over the first nine months of 2019, with improvements across all business segments. Net profit stood at €2.16 billion at September 30, although this figure was inflated by a one-off gain of €475 million from asset sales and a €188 ... Read the full article

Generali US launches specialty insurance division

19th September 2019

The US branch of Italian insurance giant Generali has announced the launch of a new specialty insurance division that will focus on providing warranty services and solutions. The new division will provide both insurance and obligor services for warranty programs worldwide and partner with consumer retailers and dealers, third party administrators, ... Read the full article

Generali profits up by 7.6%, with positive results across all segments

1st August 2019

Italian insurance giant Generali has reported that its operating result grew by 7.6% to €2.7 billion during the first half of 2019, driven by positive developments across all of its business segments. Operating results improved from €2.5 billion in H1 2018, while net profit also rose 6.4% to €1.3 billion this ... Read the full article

Generali expands in Portugal with €600mn double acquisition from Apollo

19th July 2019

Generali has expanded its presence in Portugal with the acquisition of a local insurance company and service platform from Apollo Global Management, in a deal valued at €600 million. Under the agreement, Generali will acquire 100% of Seguradoras Unidas for €510 million and AdvanceCare for €90 million. Seguradoras Unidas is the second ... Read the full article

Generali (GC&C) appoints Head of Engineering Underwriting for Asia

19th July 2019

Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has announced the promotion of Dawood Yeung to Head of Engineering Underwriting for GC&C Asia. Effective from June 1, Yeung is responsible for overseeing GC&C’s Engineering business across the regional market. He has over 19 years of international experience ... Read the full article

Generali Belgium re-named following €540m Athora acquisition

5th June 2019

With its €540 million acquisition having been completed in January, Generali Belgium S.A. has officially been re-named Athora Belgium S.A. The name change represents the final stage in the purchase of Generali Belgium by Athora Holding, first announced in April 2018. Officially, Generali Belgium has been part of Athora since 2 January ... Read the full article

Generali to sell UK life run-off portfolio to Reinsurance Group of America

24th May 2019

Italian insurer Generali has entered into an agreement with Reinsurance Group of America (RGA) for the sale of the life run-off portfolio of its UK branch. As part of the transaction, Generali has signed a reinsurance contract that will cover all claims payments arising from most of the legacy business, with ... Read the full article

Generali elects Frédéric de Courtois VP of Insurance Europe

23rd May 2019

Italian insurance giant Generali Group has elected its General Manager Frédéric de Courtois as Vice President of Insurance Europe, the European insurance and reinsurance federation. Courtois, who has been elected to serve for a three-year term, began his career in the insurance sector in 1993, holding several management positions in various ... Read the full article

Generali elects new Board members, approves financial statements

9th May 2019

Assicurazioni Generali S.p.A. has announced the election of 13 members of its Board of Directors following its recent shareholders meeting. Shareholders also approved the financial statements for the year 2018, which closed with a net profit of €1,473 million, and announced the distribution to the shareholders of a dividend of €0.90 ... Read the full article