Reinsurance News
Generali
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
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
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