Assicurazioni Generali News

Zurich Chairman Predicts Improved Results; New CEO Greco Reviews Strategy

Zurich Insurance Group AG will see improving results this year after taking steps to cut costs and overhaul units following unexpected losses at its general insurance unit, according to Chairman Tom de Swaan. “The implementation of these measures is going …

Generali Q4 Profit Misses Analysts’ Estimates on Life Income; Donnet Named CEO

Assicurazioni Generali SpA’s fourth-quarter profit rose less than some analysts expected on a writedown of its stake in BTG Pactual Group and lower income at its life business. The shares had their biggest decline in more than a month. The …

Zurich Needs Clear, Simple Strategy to Rebuild Investor Trust: New CEO Greco

Zurich Insurance Group AG needs a clear and simple strategy to rebuild investor confidence as the company tries to turn around its struggling general insurance unit, said Mario Greco, the firm’s new chief executive officer. “We need to rebuild the …

Generali Set to Nominate Donnet as CEO, Succeeding Greco: Sources

Assicurazioni Generali SpA is set to propose Italy country manager  Philippe Donnet as chief executive officer, replacing Mario Greco, who has joined Zurich Insurance Group AG, according to two people with knowledge of the discussions. Generali’s appointments and corporate governance …

Europe’s Insurers Turn to Risky Property Investments, in Hunt for Better Returns

Traditionally conservative European insurers and pension funds are turning increasingly to risky property bets on everything from new homes in provincial Britain to car parks at Brussels airport, as they feel the pinch from rock-bottom interest rates. While much is …

Risk Accumulation Aggravated Zurich’s Tianjin Port Explosion Losses: Chairman

Zurich Insurance Group AG is fixing how it detects risks after miscommunication among units aggravated losses from a port explosion in China last year, Chairman and acting Chief Executive Officer Tom de Swaan said. “There was accumulation of risk there, which …

Update: Zurich Reports 4Q Loss of $424M, vs. Profit of $860M in Q4 2014

Zurich Insurance Group AG reported a worse-than-expected loss in the fourth quarter as the company makes plans to turn around its unprofitable general insurance unit. The net loss was $424 million compared with a profit of $860 million a year earlier, Switzerland’s biggest insurer …

Top Generali Investors Making Their Influence Felt in Hunt for New CEO

French corporate raider Vincent Bollore is making his influence felt in corporate Italy by defying the country’s old guard in choosing a replacement for Mario Greco as Generali chief executive. Greco may have masterminded a three-year turnaround and a doubling of its …

Generali Names Galateri as Interim CEO After Greco Departs for Zurich Insurance

Assicurazioni Generali SpA appointed its Chairman Gabriele Galateri, as acting chief executive officer after CEO Mario Greco decided to quit Italy’s biggest insurer to become the head of Zurich Insurance Group AG. The company’s board approved the termination of Greco’s contract and …

Generali Shares Drop on Greco’s Decision to Join Zurich as CEO

Assicurazioni Generali SpA dropped to the lowest since July 2013 after Chief Executive Officer Mario Greco said he was leaving the Italian insurer to head Zurich Insurance Group AG. Generali, which has yet to announce a replacement, closed 1.3 percent lower at …