Latest news with #GeneraliGroup
The Hindu
08-08-2025
- Business
- The Hindu
Central Bank of India celebrates 144th Founder's Day
The Central Bank of India has recently established an Al-powered Gold Loan ATM in Paramakudi, Madurai on a pilot basis. Based on the success and customer response the bank intends to replicate this in other locations. 'This is second in India and first in Tamil Nadu. This is a pilot project and we chose Paramakudi as demand for gold loan is quite high in that region,' General Manager-Central Bank of India, Chennai Zone said at the 144th Founder's Day celebration that was held here in Chennai. He also mentioned that the bank has recently entered into the insurance sector through a joint venture with Generali Group, launching Generali Central Life Insurance Co. Ltd. and Generali Central Insurance Co. Ltd. Mr. Shashidhar also said that aournd 45-50 new branches would be established in his zone.
Yahoo
07-08-2025
- Business
- Yahoo
Generali to review Mediobanca's €6.3bn bid for Banca Generali
Italy's Generali Group has said that it will assess Mediobanca's offer to buy its private banking arm, Banca Generali. The assessment will be conducted in line with the group's internal procedures over the coming weeks. In a statement, the Italy-based firm said: 'Generali confirms its intention to pursue the evaluation of the Offer and discussions on these matters. 'At this stage, Generali reserves the right to continue evaluating the Offer and the potential Industrial Partnership over the upcoming weeks in full compliance with the Group's processes, procedures and schedule defined by its internal corporate governance bodies before forming a definitive view.' In April this year, Mediobanca proposed to buy 100% of Banca Generali's shares for €6.3bn. It aims to fund the acquisition by selling its shares in Generali's insurance arm, Assicurazioni Generali. Mediobanca is scheduled take a shareholder vote on its Banca Generali takeover bid on 21 August, according to a company release. The proposed merger is anticipated to create a major entity in the European market. Meanwhile, Generali Group reported an adjusted net result of €2.2bn for the half-year period ending 30 June 2025. The figure marks a 10.4% rise from $2.02bn reported in the same period last year. This improvement has been credited to the group's strong operational performance, particularly in the property and casualty (P&C) insurance segment. The overall operating result of the group reached €4.04bn, which is an 8.7% rise from the previous period. Banca Generali's operating result recorded a downturn of 11.6% to €275m for H1, largely due to a reduction in non-recurring performance fees. Nonetheless, Banca Generali managed to secure total net inflows of €3bn in the first half of the year. The Asset & Wealth Management division saw a marginal decrease in its operating result by 1.1% to €560m, supported by the input from Conning Holdings Limited (CHL). "Generali to review Mediobanca's €6.3bn bid for Banca Generali" was originally created and published by Private Banker 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.
Time of India
04-08-2025
- Business
- Time of India
Generali Group and Central Bank of India announces new brand identity for their joint venture
Generali Group and the Central Bank of India have announced a new brand identity for their life and general insurance joint venture – Generali Central . The new brand names - Generali Central Life Insurance and Generali Central Insurance – represent the coming together of Generali Group's global expertise and the Central Bank of India's trusted heritage to protect what customers value most: their family, their health, their assets and their future. Rob Leonardi, Asia regional officer, Generali, said, 'India has long been a strategic market for Generali and our joint venture with the Central Bank of India reflects the potential we see today and for the future. The synergies between our two organisations are clear and I have every confidence that we'll be able to deliver on our joint vision to provide accessible solutions that reflect the real needs of Indian families and businesses across the country. This collaboration supports us in fulfilling our Lifetime Partner ambition in the country, as we lay the groundwork for future innovation and growth.' The Generali Central brand launch includes a new visual identity, including a new logo and typography, as well as a new website and revamped social media presence. It reinforces the company's core values of protection and reliability, while signaling digital strength and a renewed focus on accessibility across India. This rebranding also puts an emphasis on digital innovation and expanded distribution, further strengthening the company's long-term commitment to customers, partners, and stakeholders. Aligning with the Generali Group's 'Lifetime Partner' proposition, the Generali Central brand aims to address the real needs of individuals, families and businesses with life and general insurance solutions designed to safeguard Indian lives and livelihoods. Alok Rungta, managing director and chief executive officer, Generali Central Life Insurance Company , said, 'With our new brand identity, Generali Central Life Insurance marks a defining moment in our journey to becoming a future-ready, customer-first life insurer. Our strategic partnership with the Central Bank of India unlocks transformative potential to reshape the landscape of protection and insurance in India. By combining Generali Group's global heritage and insurance expertise across more than 50 countries with the Central Bank of India's deep-rooted trust and expansive network of over 4,500 branches, we are poised to democratise access to life insurance like never before.' 'Our joint focus is clear: to deepen protection in underserved and rural segments through innovative, accessible, and inclusive products. This new identity reflects our shared commitment to transparency, sustainability, and disciplined execution—anchored in strong governance and a purpose-driven approach,' Rungta added. Anup Rau, managing director and chief executive officer, Generali Central Insurance Company, said, 'Our new brand identity reflects the powerful synergy between two iconic institutions—Generali Group, with nearly 200 years of global insurance expertise, and the Central Bank of India, with over a century of deep-rooted presence in India's financial and geographical landscape. This is more than a collaboration; it's a strategic alliance aimed at redefining general insurance in India.' 'By harnessing the Bank's extensive branch network and community trust, we are uniquely positioned to bridge the protection gap, enhance insurance awareness, and deliver comprehensive, customer-centric solutions. This transformation is not just visual—it's a reaffirmation of our purpose: to be a Lifetime Partner, empowering individuals with confidence and security at every stage of life,' Rau added.
Reuters
30-06-2025
- Business
- Reuters
'Generali' sign atop insurer's skyscraper offices collapses in Milan
MILAN, June 30 (Reuters) - One of the giant Generali signs that crown the Milanese head offices of the Italian insurer collapsed on Monday, remaining atop the 170 metre-high skyscraper but at risk of crashing to the ground, firefighters said on Monday. A spokesperson for Generali ( opens new tab said there had been no injuries, adding that staff had been instructed to remain at home and work remotely. Firefighters said they were working with Generali personnel to prevent the sign from dislodging from the top of the building and plunging to the ground. The area has been cordoned off and the nearby metro station shut. The Generali building, known as the Hadid Tower, is part of the Milan's CityLife redevelopment project which saw the construction of three iconic skyscrapers dubbed the 'Le Tre Torri' (three towers) on the grounds of the former trade fair. Built between 2014 and 2017 and spanning 44 storeys, the Generali tower was designed by the late Iraqi-born British architect Zaha Hadid.
Economic Times
08-05-2025
- Business
- Economic Times
Generali readies capital infusion plans for India JV
Generali Group plans to inject capital into its Indian venture to expand operations, anticipating the increase in foreign direct investment in the insurance sector to 100%. While the specifics of the infusion are pending shareholder agreement finalization, Generali intends to maintain a 74% equity stake and collaborate with Central Bank, its new partner after the Future Group's insolvency proceedings. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Banking/Finance 1. Generali readies capital infusion plans for India JV Milan: Italy's Generali Group has drawn up plans for capital infusion in its Indian venture to scale up its business in the country. India is set to raise foreign direct investment in the insurance sector to 100% from 74%, which would allow this capital infusion."We do expect that there will likely be a need for capital injection but we will have a better idea on that once the shareholder agreements are concluded, which are still in process," Rob Leonardi, Regional Officer, Generali Asia, told ET on the sidelines of the 58th annual meeting of the Asian Development Bank declined to give details about the quantum or time frame of the capital infusionGenerali forayed into India's insurance sector in 2007 with a tie-up with the Future Group. Central Bank has acquired shares from the Future Group as part of the insolvency process including 24.91% shareholding in Future Generali India Insurance and 25.18% shareholding in Future Generali India Life said the group will continue with 74% equity even as the option to raise it 100 % is expected (with the increase in FDI cap). "We are very much looking forward to developing our partnership with Central Bank and working with them," he Indian government is expected to introduce the Insurance amendment bill to raise the foreign investment limit to 100% in the upcoming monsoon is the second largest market for the group in Asia, he noted.(The reporter is in Milan at the invitation of ADB)
