Italian market News

Italy’s Banco BPM to Acquire Full Control of Insurance Joint Ventures with Cattolica

MILAN — Italy’s Banco BPM said it would end an insurance partnership with Cattolica by acquiring full control of their joint-ventures, in a move that may ease a mooted tie-up with BPER Banca. Banco BPM said late on Tuesday it …

Coverys European Holdings Subsidiary Acquires Lloyd’s Italian Coverholder Gava

AEC Wholesale Group, a subsidiary of Coverys European Holdings (CEH), announced the acquisition of Gava S.R.L, a Lloyd’s coverholder based in Brindisi, Italy. AEC Group will assume 100% ownership of Gava, bringing the Italian Lloyd’s coverholder into its existing network …

Coverys European Holdings Acquires Bridge Insurance Broker in Italy

Coverys European Holdings (CEH), an agency platform and network specializing in European markets, has completed the 100% acquisition of Bridge Insurance Broker S.R.L, a Lloyd’s wholesale broker and coverholder based in Lucca, Italy. Bridge provides a full suite of property, …

Update: Italy’s Tax Police Raid Offices of Generali in Probe About Insurance Contracts

Italy’s tax police raided the offices of state railway Ferrovie dello Stato (FS) and Generali to gather documents in a probe related to the awarding of contracts to the Italian insurer, a document seen by Reuters on Friday showed. A …

Italy’s Regulator Asks Insurer Cattolica to Boost Its Capital by $557M on COVID-19 Impact

Cattolica Assicurazioni said on Monday that Italy’s insurance regulator had told it to raise 500 million euros ($557 million) after the coronavirus crisis knocked its solvency ratio, a measure of financial strength. The Bank of Italy warned last month about …

Billionaire Del Vecchio Seeks to Raise Stake in Generali’s Biggest Investor, Mediobanca

Italian eyewear billionaire Leonardo Del Vecchio stepped up his efforts to become a bigger player in Italy’s finance industry, asking for approval to raise his stake in Mediobanca SpA to as much as 20%. The shares jumped as much as …

Italy to Protect Businesses from Liability if Workers Catch Coronavirus: News Report

Italian businesses that follow the health and safety rules are protected from liability in case returning workers catch coronavirus, the head of the country’s insurance association said in an interview with La Stampa. While infections are categorized as workplace accidents …

MGU Victor Taps Bonfà from US Underwriting Solutions as Country Leader of Victor Italia

Victor Insurance Holdings, the world’s largest managing general underwriter (MGU), announced the appointment of Matteo Bonfà as country manager, Victor Italia S.r.l., effective immediately. Bonfà is based in Milan and reports to Anthony Stevens, president, Victor International. With a 20-year …

AXA XL Appoints Ex-Zurich Executive Longo as Country Leader, Italy

AXA XL Insurance announced the appointment of Saverio Longo as country leader, Italy. He will join AXA XL in November and will be based in Milan. He succeeds Simona Fumagalli, who was appointed head of International Financial Lines, Europe. In …

Swiss Re Corporate Solutions Appoints Semprini from HDI Global as Head Italy

Swiss Re Corporate Solutions has appointed Francesco Semprini as head Italy, effective Nov. 1, 2019. Based in Milan, Semprini will be responsible for managing the strategy, development and performance of Swiss Re Corporate Solutions’ business in Italy. Semprini has more …