Italian market News

Marsh Acquires Milan-Based Brokerage Fontana Rava-Toscano & Partners

Marsh, the insurance brokerage business of Marsh McLennan, announced that it has acquired Fontana Rava-Toscano & Partners (FRT), a Milan-based insurance brokerage. Terms of the acquisition were not disclosed. Founded in 1992 by the current partners together with Giancarlo Fontana …

Disaster Insurance Set to Test Italy’s Business Backbone in 2025

Italian companies are preparing to comply with a requirement to take out natural disaster insurance from next April, although some fear it will be hard to enforce and too costly. Many small and medium-sized firms, which form the backbone of …

Italy to Require Companies Buy Insurance for Climate Risks

Starting Jan. 1, every company in Italy must buy insurance to protect its assets from floods, landslides and other natural hazards that have become more common thanks to global warming. It’s the latest sign of Europe’s rising anxiety about climate …

Everest Launches Italian Insurance Business

Everest announced its expansion into the Italian market, following regulatory approval to operate in Italy, trading as Everest Insurance (Ireland) DAC, Succursale Italiana. Headquartered in Milan, the operations are currently led by José Ramón Morales, head of Southern Europe, Everest …

Italy to Tap Banks, Insurers for €3.5 Billion in Budget Plan

Prime Minister Giorgia Meloni’s cabinet is tapping Italy’s banks and insurers to help finance its budget, according to a new plan designed to deliver on giveaways pledged to voters. Most of the amount will be raised by postponing tax deductions …

PE Firm Brera Partners Buys 70% of Shares in Italian Broker GBSAPRI Group

Brera Partners, a Zurich-based private equity firm specializing in investments in the asset-light financial services sector, announced it has acquired 70% of the shares in Italian insurance broker GBSAPRI Group, with the strategy to drive consolidation in Italy’s fragmented insurance …

Verlingue Acquires Majority Stake in Italian Broker INSER, Advancing European Strategy

Verlingue has acquired a majority stake in the insurance broker INSER, in line with its Verlingue 2024 strategic plan to create a major European, family-owned, independent insurance broker. Financial details of the deal were not disclosed. The INSER’s longstanding shareholder, …

Triple-Whammy of Cyclones, a 1-in-200-Year Event, Drove Italy’s Flooding: Scientists

A rare, triple-whammy of cyclones drove the deadly flooding that devastated much of northern Italy this month, but scientists said Wednesday that climate change doesn’t seem to be to blame for the intense rainfall. Using computer simulations and past observations, …

Italian Insurer Unipol and SpaceX Join Forces to Help People Hit by Flooding

Elon Musk’s SpaceX and Unipol Gruppo agreed to join forces to help people hit by flooding in northern Italy connect to the Internet, facilitating rescue operations, the Italian insurer said on Saturday. Torrential rains devastated the eastern side of the …

Fruit Harvest Faces Ruin After Floods Hit Italy’s Emilia-Romagna

Deadly floods in northern Italy will ravage fruit production in what is normally one of the country’s most bountiful agricultural regions, farm lobby Coldiretti said on Monday. Floods killed 14 people last week in Emilia-Romagna as torrential rain caused more …