Credit Suisse Group’s Winterthur Insurance announced that it has signed an agreement to sell its life and P/C operations in Italy to Compagnia Assicuratri Unipol for 1.465 billion euros ($1.7 billion) in cash. The deal is the second sale in …
According to newspaper reports Italy’s Generali may soon make a 300 million euro ($355.5 million) bid for French insurer Le Continent in a bid to increase its share of the French market. It considers the country a prime expansion opportunity. …
Italy’s anti-trust regulators have ruled that both Mediobanca SpA and Premafin Finanziaria SpA are again entitled to vote their shares in Asscurazioni Generali SpA, following the divestiture ordered by the authority last December as a condition for allowing the merger …
The Royal Bank of Scotland (RBS) and Winterthur, the insurance arm of the Credit Suisse Group (CSG), have concluded a deal for RBS to acquire Churchill Insurance, CSG’s principle U.K. general insurance division, for £1.1 billion ($1.817 billion). The acquisition …
A.M. Best Co. announced that it has affirmed the financial strength ratings of ‘A’ (Excellent) for the Zurich Financial Services Group (ZFS), Switzerland, and its core subsidiaries. “The outlook remains positive following the company’s release of first quarter results for …
Standard & Poor’s Ratings Services announced that, following a review, it has affirmed its ‘BBB-‘ long-term counterparty credit and insurer financial strength ratings on Italian marine insurer SIAT – Societa Italiana Assicurazioni e Riassicurazioni SpA (SIAT), and assigned them a …
Germany’s Allianz reported a first quarter net loss of 520 million euros ($593.06 million), mostly due to another series of writedowns in the value of its investments, but from an operating point of view Europe’s largest insurer achieved some significant …
Allianz AG’s Annual General Meeting (AGM) formalized a number of management changes. Michael Diekmann officially takes over today as the new Allianz Group CEO. His predecessor, Henning Schulte-Noelle, who agreed to step down last December, will succeed Klaus Liesen as …
Generali SpA, Italy’s largest insurer, has reconfirmed the positions of Antoine Bernheim as Board Chairman and Giovanni Perisinotto and Sergio Balbino as co-Chief Executives for an additional three-year period, while adding four new members to its management board, at a …
Vincenzo Maranghi, the CEO of Italy’s powerful Mediobanca investment banking group, will leave his post after 15 years on April 14. Founded by legendary financier Enrico Cuccia, Mediobanca played a key role in restoring Italian industry after World War II, …
