Latest news with #Generali
Bloomberg
a day ago
- Business
- Bloomberg
Generali Offers a Perfect Venue to Fight for Europe's Financial Future
It's no exaggeration to say that what happens at Assicurazioni Generali SpA in the next few months will determine the financial and political map of Italy for years to come – and exert a strong pull on the strategic direction of Europe as a whole. The country's biggest insurer is the key domino in a matrix of banking deals: Which way it falls will affect most of the other proposed alliances. Generali's hometown of Trieste in the northeast corner of Italy is the perfect setting for a decision around which a constellation of corporate deals will turn. This glorious and strange city's patchwork past echoes the fluid history of European nations – it's been Austrian, Napoleonic and Balkan, as well as Italian. The next step for the insurer could leave it chained to a fractious past, or open up a bigger, more European future.
Yahoo
3 days ago
- Business
- Yahoo
Generali secures €200m Lion Re DAC cat bond agreement
Generali has reached multi-year reinsurance agreements with Lion Re DAC, a special purpose vehicle in Ireland, to cover losses from windstorms in Europe and earthquakes in Italy over a four-year term. Lion Re DAC has launched Series 2025-1 notes worth €200m ($226m) to support these reinsurance agreements. The issuance includes €125m in Class A notes for combined windstorm and earthquake coverage, and €75m in Class B notes exclusively for earthquake coverage in Italy. The Class A notes have a premium of 5.50% per annum, while the Class B notes have a premium of 6.00% per annum, which will be paid to investors as part of the interest on the notes. The terms of the issuance specify that payments on the Series 2025-1 Notes may be reduced if Generali's losses from the specified natural disasters exceed a certain threshold. This marks the second Generali-sponsored catastrophe ILS instrument that integrates ESG criteria according to the insurer's updated Green, Social and Sustainability ILS Framework. The transaction will help allocate capital to eligible projects, with proceeds from the issuance of the Series 2025-1 Notes to be invested in AAA-rated green notes from the EBRD. Aon Securities and GC Securities, a division of MMC Securities, were joint structuring agents and joint bookrunners. Generali Group general manager Marco Sesana said: 'Our new catastrophe bond reaffirms Generali's strong relationship with ILS investors, which started in 2014 with the issuance of our first catastrophe bond. ILS capital is completely integrated and complementary to our traditional reinsurance strategy. This first transaction, under the newly shelf programme, reflects the continued trust in the quality of our portfolio and our disciplined approach to risk management. Furthermore, it is fully aligned to our Lifetime Partner 2027 strategy, advancing our sustainability value proposition, thanks to the ESG structure at the core of this issuance.' "Generali secures €200m Lion Re DAC cat bond agreement " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
4 days ago
- Business
- Reuters
Mediobanca shareholder Caltagirone sees no value in Banca Generali bid
ROME, May 30 (Reuters) - Mediobanca ( opens new tab and Generali ( opens new tab shareholder Francesco Gaetano Caltagirone on Friday expressed a negative view on the lender's proposed acquisition of the insurer's private banking unit Banca Generali ( opens new tab. Caltagirone was speaking on the sidelines of the presentation of the Bank of Italy's annual report, where Governor Fabio Panetta said bank mergers had to create value, "first and foremost" for customers.
Bloomberg
6 days ago
- Business
- Bloomberg
The Billionaire Who Would Revive Generali by Preventing a Deal
Construction magnate Francesco Gaetano Caltagirone is shaping Italy's M&A wave, seeking to ensure Generali doesn't 'fall into the wrong hands' The apartment blocks which Francesco Gaetano Caltagirone has constructed across Rome since the 1960s are so ubiquitous, the construction tycoon is sometimes referred to as the city's 'Eighth King." Now, the 82-year-old ruler of a corporate empire stretching from cement to newspapers, banks and insurance companies is engaged in a boardroom struggle that is set to shape the future of Italian finance — and define his own legacy.
Reuters
26-05-2025
- Business
- Reuters
Intesa CEO rules out any deal taking national savings out of Italian hands
MILAN, May 26 (Reuters) - Intesa Sanpaolo's CEO on Monday ruled out taking part in any deal that would take the management of national savings out of Italian hands, saying he recognised some financial sector mergers and acquisitions had national security concerns. Intesa has kept out of the M&A wave sweeping Italian banking, but bankers have been expecting it to make a move to preserve its market leadership since CEO Carlo Messina was handed a new three-year term in April. Messina said on Monday his bank could consider specific asset management or private banking deals, but added that Intesa was well aware of being an element of national security for Italy with the 1.4 trillion euros ($1.6 trillion) in customer financial assets it manages. "I would never do it as an Italian, but I'm not so naive as to think that Intesa could just decide to take those savings elsewhere. That it would be free to do that," Messina told the annual meeting of the Italian FABI banking union. Referring to special powers Rome has to vet banking deals on grounds of national security, he said 'golden power' rules "are part of the new world we live in". Italy's biggest insurer Generali ( opens new tab has sparked alarm in Rome by announcing a deal with French banking group BPCE to merge their respective asset management businesses, Generali Investments Holding and Natixis Investment Managers. The deal has met opposition from leading Generali shareholders and has been criticised by the government. Generali has indicated it could drop it, opens new tab if it cannot dispel Rome's concerns. On Monday, Messina said deals were unfolding in a way that was not in line with markets' best practice standards and was "not elegant, drawing unwanted attention to Italy". Messina also warned that retail investors could lose money by investing in banks and insurers whose share prices have been inflated by M&A premiums. "I don't hear anyone mentioning it. I'd worry about this were I in charge of protecting retail savings," he said. ($1 = 0.8789 euros)
