Jefferies: Generali “unlikely” to pursue transformational M&AInvestment bank Jefferies has downplayed market speculation that Italy’s Generali is targeting large-scale and transformational M&A as part of its ongoing growth plan, with analysts highlighting the insurer’s preference for smaller bolt-on deals and investor returns.
Insurance a “stabilising force” to uneven global development: GeneraliRising inequality and political polarisation underline the importance of accessible and innovative insurance solutions, a new report by Generali and the UN Development Programme has said.
Generali plays down press M&A speculation amid focus on annual buybacksGenerali CEO Philippe Donnet has reiterated that the group will be taking a disciplined approach towards future M&A, with the immediate focus being on the integration of the recently acquired Liberty Seguros and Conning businesses.
Generali: 94% P&C CR for 2023 despite €1.1bn nat cat impactItalian insurance group Generali has posted a P&C combined ratio of 94.0 percent for 2023, a year-on-year improvement of 1.4 percentage points despite significant natural catastrophe impacts over the year and an operating result drag in the fourth quarter.
Generali M&A strategy places €10bn+ insurers on wishlist: reportItalian insurance giant Generali is considering a range of M&A opportunities to enhance its growth plans, with a number of €10bn+ ($10.9bn) insurers understood to be in the fray.
Allianz completes €280mn acquisition of Generali’s TuaGenerali has completed the previously announced €280mn ($304mn) sale of Tua Assicurazioni to European rival Allianz.
Generali completes €2.3bn deal for Liberty Mutual’s Western European unitsGenerali has completed its previously announced €2.3bn ($2.5bn) acquisition of Liberty Mutual’s personal and small commercial insurance operations in Western Europe, in a deal the Italian insurance giant described as its biggest in a decade.
Generali proposes €500mn share buybackGenerali will submit a proposal at its April annual general meeting for the launch of a €500mn share buyback during 2024.
Generali to consolidate ownership of Chinese P&C businessGenerali has penned a deal which will see it acquire 51 percent of Generali China Insurance Company Limited for a consideration of approximately €99mn, whereby the Italian insurance giant will consolidate its ownership of the business.
Generali closes sixth and seventh green bonds totalling €1.25bnGenerali has successfully placed its sixth and seventh green bonds with institutional investors, securing up to €1.25bn ($1.37bn) for allocation into eligible climate-related projects.
Generali continues P&C push as German disposal completesItalian insurer Generali has completed the disposal of the operations of Generali Deutschland Pensionskasse to life portfolio consolidator Frankfurter Leben as part of the insurance giant’s continued focus on P&C business.
AM Best affirms Generali’s A ratingGenerali’s financial strength rating of A and long-term issuer credit rating of “a+” have been affirmed by AM Best, with the rating agency handling the Italian insurer a stable outlook.
Generali appoints banking veteran Marsaglia to lead investment committeeItalian insurance heavyweight Assicurazioni Generali has appointed banking executive and current non-executive and independent director Stefano Marsaglia to its investment committee with immediate effect.
Long-serving Generali exec and group CTO Scaroni to depart at year-endItalian insurance heavyweight Assicurazioni Generali has announced that its group chief transformation officer Bruno Scaroni will depart at the end of the year.
Generali posts improved P&C CR of 94.3% despite nat cat losses of €875mnItalian insurance group Generali has posted a P&C combined ratio of 94.3 percent for the first nine months of 2023, marking a year-on-year improvement of 3.1 percentage points despite booking €875mn ($948mn) in nat cat losses net of reinsurance.
Generali launches €250mn venture capital armGenerali has launched a venture capital initiative, Generali Ventures, and committed €250mn ($266.57mn) to invest in new opportunities including the insurtech and fintech sectors.
Generali to significantly exceed FY cat budget as 9M bill reaches €840mnGenerali is set to report a nine-month catastrophe bill of €840mn ($888mn) when it unveils its quarterly results on 17 November, the latest indicator of elevated European weather losses during the third quarter.
Allianz to acquire Generali’s Tua Assicurazioni in $295mn dealItaly’s Generali has reached an agreement to sell Tua Assicurazioni to Europe’s largest insurer Allianz for a consideration of €280mn ($295.1mn).
Generali appoints Allianz’s Terzariol as CEO of insuranceAllianz CFO Giulio Terzariol will join Generali as CEO of insurance at the start of 2024, with Claire-Marie Coste-Lepoutre set to replace him in his current role.
Generali exhausts 85% of FY cat budget as Italy flood losses deteriorateElevated weather losses in Europe mean Generali has already utilised 85 percent of its full-year natural catastrophe budget as of the end of August, according to KBW analyst William Hawkins.