Generali
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In the new role, Giulio Terzariol will take on responsibility for the firm's insurance business units. -
Fitch has also upgraded Generali's Long-Term Issuer Default Rating to A from A-.
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A webinar and report from the Geneva Association has explored the barriers and prospects for the growth of blockchain insurance.
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The carrier’s P&C division reported a combined ratio of 91.6%, a 5.4-point improvement on the same period last year.
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Other bidders included France's Groupama and Italy's Itas.
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As part of the deal with Generali, Cathay will take a 16.75% stake in GIH.
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The sale includes Liberty Seguros operations in Ireland, Northern Ireland, Portugal and Spain.
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The P&C segment also reported a top-line expansion of 14%.
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The carrier has retained advisers to run the sale process of the unit, which is valued at over $330mn, according to Bloomberg News.
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The carrier has extended the deadline for nominations to the statutory auditors board.
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Analysts find carriers have few investments in bank debt after Credit Suisse rescue.
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The results improved despite a larger impact of nat cats compared with last year.
