Generali News

Generali to Sell Belgian Operations to Athora Holding for $668.3M in Cash

Italy’s Generali has agreed to sell its Belgian operations to Athora Holding Ltd. for approximately €540 million ($668.3 million) in cash. The transaction is expected to close in the second half of 2018, subject to regulatory approvals. Generali Belgium S.A. …

Generali Completes Sale of Panama & Colombia Operations to ASSA & Talanx

Assicurazioni Generali SpA announced the closing of the sale of its operations in Panama and Colombia. These two transactions, which were originally announced during the second half of 2017, are part of the group’s overall strategy to rationalize its international …

Blockchain Insurance Industry Initiative, B3i, Forms Company Called ‘B3i Services’

The Blockchain Insurance Industry Initiative (B3i) announced the incorporation of B3i Services AG in Zurich, Switzerland. The company was formed by the founders of B3i, which previously operated as a collaborative initiative of 15 global insurers and reinsurers who came …

Generali Evaluates Offers for Its $49B German Life Insurance Portfolio: Sources

Athene Holding Ltd. and Viridium Group GmbH submitted binding bids for Assicurazioni Generali SpA’s 40 billion-euro ($49 billion) German life insurance portfolio, according to people with knowledge of the matter. Generali is working with Morgan Stanley to evaluate bids, the …

Italy’s Billionaire Benetton Family Plans to Boost Stake in Generali, Say Sources

Italy’s billionaire Benetton family plans to boost its stake in Assicurazioni Generali SpA, the country’s biggest insurer, to as much as 2 percent as part of a strategy to increase investments in the financial industry, according to people familiar with …

Munich Re’s Ergo Decides Not to Sell Run-Off Life Policies as Offers Too Low

Munich Re’s ERGO unit has dropped plans to sell run-off life insurance policies, saying non-binding offers received by the company were too low. “In ERGO’s view, the current value of the portfolios and its potential appreciation is not adequately reflected …

Generali Posts 9.9% Drop in 9-Month Profits; But on Track to Achieve 2017 Target

Italy’s biggest insurer, Generali, kept its guidance unchanged on Thursday after posting a 9.9 percent drop in nine-month profits due to a loss on the sale of its Dutch business. Profits for the period totalled 1.463 billion euros ($1.7 billion), …

Insurers to Crack Down on Illegal Fishing by Denying Coverage

A coalition of insurance firms agreed on Friday to crack down on pirate fishing by banning coverage for trawlers whose illegal catches are worth at least $10 billion a year. Firms would deny insurance for vessels on a European Union …

Generali in Germany Launches Next Phase of Restructuring Program

Generali Deutschland has launched the next phase of its program to reorganize in Germany, which is one of Generali’s core markets. The program is designed to strengthen and streamline operations, while building the Generali Deutschland brand, said the company in …

Beazley to Manage Data Breaches for Generali Brazil’s Cyber Insurance Clients

Beazley, a specialist in data breach response insurance, has partnered with Generali Brazil to manage data breaches for Generali’s corporate and commercial cyber insurance customers. Beazley will coordinate the breach response for policyholders, including IT experts, legal services, identity monitoring, …