Reinsurance News
Generali
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
Francesco Martorana appointed CEO of Generali’s asset management arm
23rd April 2019
Generali Insurance Asset Management S.p.A. Società di gestione del risparmio (GIAM), a division of the Italian insurance giant, has appointed Francesco Martorana as Chief Executive Officer. Martorana replaces Santo Borsellino, who becomes Chairman of the Board of GIAM as well as Head of Generali’s asset and wealth management business unit Martorana also ... Read the full article
Generali turns to blockchain for enhanced employee benefits offering
16th April 2019
Professional services firm Accenture and Generali Employee Benefits (GEB) have announced a blockchain-powered solution aimed at enabling participants in the reinsurance process for captive or pooling services to access the same data and reduce processing errors via smart contracts and automated reconciliation. The solution is expected to streamline GEB’s employee benefit ... Read the full article
Generali completes sale of Worldwide & Link units to LCCG
1st March 2019
Italian insurance giant Assicurazioni Generali SpA has completed the sale of its entire holdings in Generali Worldwide Insurance Company Limited and Generali Link to Life Company Consolidation Group (LCCG). Originally announced in July 2018, the transactions form part of Generali Group’s strategy to improve its operational efficiency, while improving capital allocation ... Read the full article
Athora completes purchase of Generali Belgium for €540m
2nd January 2019
Athora Holding, together with its' Athora subsidiaries, has completed the acquisition of Generali’s Belgian business, for a cash consideration of approximately €540 million ($613 million). Primarily focused on the life segment, Generali Belgium is the 11th largest insurer in Belgium and serves around 420,000 customers through a team of 430 members ... Read the full article
Generali completes stake increase in Indian joint ventures
2nd January 2019
Italian insurance giant Generali has finalised its previously announced plans to increase its stakes in Future Generali insurance joint ventures in India from 25.5% to 49%. The completion of the transaction saw Generali commit approximately €120 million to the Future Group, a platform and customer ecosystem that offers digital insurance ... Read the full article
Generali gets regulatory go-ahead for UK legacy portfolio transfer to Compre
20th December 2018
Italian insurance giant Generali has received regulatory approval for the non-life legacy portfolio transfer of its UK branch to independent re/insurance legacy specialist Compre. The transaction, which was signed last December and also included the non-life run-off portfolio of Generali’s U.S branch, was structured as an upfront reinsurance solution by ... Read the full article
Generali’s new strategic plan is credit positive, says Moody’s
3rd December 2018
The new 3-year strategic plan from Italian insurance giant Generali is broadly credit positive, according to analysts at Moody’s Investors Service, as it targets debt reduction and greater earnings diversification. The insurer announced its ‘Generali 2021’ growth plan last week alongside claims that it was on track to hit all ... Read the full article
Generali reveals 3-year growth plan, hits 2018 targets
26th November 2018
Italian insurance giant Generali has unveiled its new 3-year strategic plan after posting strong results for 2017 and claiming that it was on track to hit its financial and industrial targets for 2018. The company achieved a property and casualty (P&C) combined ratio of 92.8% and a life new business margin ... Read the full article
Generali launches new pension risk transfer business unit
16th November 2018
Italian insurance giant Generali has launched a new business unit designed to offer pension risk transfer solutions to multi-national corporations, called Generali Global Pension (GGP). Generali said the unit will aim to accompany corporations in their de-risking journey and cross-border plans, providing a range of services for both plan sponsors and ... Read the full article
Generali to stop insuring new coal plants
12th November 2018
Italian insurance giant Generali has stepped up its pledge to underwrite more sustainable business and commit to 'green' investments by ceasing to offer coverage for new coal mines and plants. Generali had previously announced an underwriting commitment to increase the percentage of its premium portfolio related to the renewable energy sector, ... Read the full article
Generali opens representative office in Moscow
31st October 2018
Italian insurance giant Generali has announced the opening of its Representative Office in Moscow by Austria, Central & Eastern Europe, Russia Regional Officer and Chief Executive Officer of Generali CEE Holding, Luciano Cirinà, and the Chairman & CEO of Generali Russia & Commonwealth of Independent States, Giorgio Callegari. “As we inaugurate ... Read the full article
Generali acquires Polish asset management firm Union Investment
24th October 2018
Italian insurance giant Generali has acquired a 100% stake in Polish asset management company Union Investment TFI as it looks to to strengthen its presence in central and eastern Europe. With €3.3 billion of assets under management, Union Investment is the country’s sixth largest asset management company. It has approximately 135,000 ... Read the full article
Generali launches tech startup, introduces cyber platform
10th October 2018
Italian insurance giant Generali has announced the launch of CyberSecurTech, its own technology startup aimed at the provision of innovative cyber risk assessments for its customers. Furthermore, the wholly owned ‘startup’ will support Generali’s newly-launched technology platform Majorana, designed and developed entirely by the group’s team of IT security experts. The introduction ... Read the full article
Generali launches disruptive asset manager, led by Peter Kraus
21st September 2018
Generali has announced the launch of Aperture Investors, a new asset management company that relies on a disruptive revenue model, to be led by Peter Kraus, former Chairman and Chief Executive Officer (CEO) of AllianceBernstein and Global Co-Head of Goldman Sachs’ Investment Management Division. The Italian insurance giant will contribute up ... Read the full article