Generali
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Generali has produced a report with the United Nations Development Programme extolling the virtues of parametric insurance.
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Natural catastrophe claims increased by 0.5 percentage points in the first six months of 2024.
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This publication reported that parties including Sompo and Generali were circling the carrier.
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Sources said that Japanese big-three carrier Sompo and Italian insurance giant Generali are circling.
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The group's P&C segment reported top-line expansion of 6.2% over the period.
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Giulio Terzariol and Woody Bradford will be CEOs of the insurance and asset management units, respectively.
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A deal was announced last July, with Cathay agreeing to take a 16.75% GIH stake.
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The company posted a record group profit of EUR6.9bn.
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The Italian carrier will buy out joint venture partner CNPC Capital.
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The combined P&C ratio improved to 94.3%, while premiums rose 11.5% to EUR23.4bn.
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Italy’s largest insurer has booked EUR840mn in cat losses for the nine months to 30 September.
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Talanx, Groupama and Itas had shown interest in the P&C business.
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