Italy News

BHSI Opens London Office, Expands UK & Southern Europe Team

Berkshire Hathaway Specialty Insurance Co. (BHSI), in coordination with its affiliate Berkshire Hathaway International Insurance Ltd. (BHIIL), announced it has opened a new office in London. In addition, key executive roles have been filled. Richard Nathan has been named head …

Generali Names Sesana as Italy’s Country Manager; Ryan Named Group CIO

Assicurazioni Generali’s board of directors has appointed Marco Sesana as country manager of Italy. He will also retain the position of chief executive officer of Generali Italia. Marco Sesana joined Generali Italia in 2013 as chief operating officer and was …

AmTrust Accuses Ex-Broker Partner in Italy of Threats, Bribery, Data Theft

The box arrived at his home in Italy and, when he opened it, the insurance executive was chilled by its contents: nine bullets, one each for him, his wife and their seven children. Sent by “persons unknown,” the package is …

Germany’s Talanx Strengthens Bancassurance Presence in Italy

The Talanx Group, headquartered in Hannover, Germany, is strengthening its bancassurance business in Italy by acquiring the insurance companies belonging to the Italian banking group Gruppo Banca Sella. Via its Italian subsidiary HDI Assicurazioni SpA, Talanx is taking over 100 …

Generali Q3 Profit Falls 18% on Decline in Life Insurance Business

Assicurazioni Generali SpA, Italy’s biggest insurer, said third-quarter profit fell 18 percent after operating income declined at its life-insurance business. Net income dropped to 420 million euros [$458.6 million] from 513 million euros [$560.2 million] a year earlier, Trieste-based Generali said in a statement …

Best’s Italian Insurance Sector Report Sees Growth Despite Weak Economy

A special report from A.M. Best concludes that “Italy’s insurance market remained buoyant in 2014 and is well-placed to continue to grow in 2015, driven by demand for life products.” Best foresees a “second consecutive year of double-digit expansion in …

Generali Q4 Profit Drops 75% on Higher Impairments

Assicurazioni Generali SpA, Italy’s biggest insurer, said fourth-quarter profit slid 75 percent after impairments of its Russian stake and related to the sale of BSI. The insurer increased its dividend by 33 percent. Net income declined to 81 million euros …

Generali Meets Targets Ahead of Schedule, Sheds Global Non-Core Assets

Assicurazioni Generali SpA said it has reached most of its targets ahead of schedule after shedding non-core assets around the world and will present a new strategy in May. “The next plan will be quite different because it will not be focused …

Swiss Re Offers Food, Drink Protection for UK, Ireland, Italy

Swiss Re Corporate Solutions has partnered with UK-based crisis management consultancy The RQA Group to launch comprehensive Contaminated Products Insurance for the food and drink industry in the United Kingdom, Ireland and Italy. The cover offers protection in both the …

U.S. ‘Fiscal Cliff,’ Europe’s Debt Woes Worry G20

Leading world economies pressed the United States on Sunday to act decisively to avert a rush of spending cuts and tax hikes, warning that the so-called fiscal cliff is the biggest short-term threat to global growth. Unless a fractious Congress …