Generali partners with satellite-imaging specialist for large construction project risks

Generali partners with satellite-imaging specialist for large construction project risks

Generali partners with satellite-imaging specialist for large construction project risks

Generali Global Corporate & Commercial (Generali GC&C) and NHAZCA, a specialist in satellite and geohazard risk assessment, have announced a strategic partnership in the field of large/complex construction projects worldwide. NHAZCA, a spinoff from the Sapienza University in Rome, will provide its expertise in satellite, aerial and terrestrial sensing services, with the main applications being in nat cat and earthquake,…

Cat bonds: Why is the Italian horse not drinking?

Cat bonds: Why is the Italian horse not drinking?

Cat bonds: Why is the Italian horse not drinking?

Despite the relatively high exposure of Italian businesses to natural catastrophe risks, they remain underinsured and underprepared for events such as earthquakes, with the main barriers being both cost and a lack of awareness of the potential benefits offered by traditional insurance and catastrophe bonds. For Italian companies to take this very real risk more seriously and invest in the…

AXA appoints Generali’s de Courtois as deputy CEO in management shake-up

AXA appoints Generali’s de Courtois as deputy CEO in management shake-up

AXA appoints Generali’s de Courtois as deputy CEO in management shake-up

AXA has named Generali’s Frédéric de Courtois as deputy CEO, along with George Stansfield, within a new structure that ushers in several key appointments. The changes to AXA’s senior leadership team aim to implement the company’s new ‘Driving Progress 2023’ strategic plan announced in December. Mr de Courtois will rejoin AXA on 1 August after five years at Generali, most…

Anra president De Felice says farewell after six years of growth

Anra president De Felice says farewell after six years of growth

Anra president De Felice says farewell after six years of growth

Alessandro De Felice, president of Italian risk and insurance management association Anra since 2015, reaches the end of his last mandate in April and steps down after a busy period in charge that has seen the association significantly expand its services. The outgoing Anra president would normally say farewell and hand over to the new president at the association’s annual…

Allianz buys Aviva’s Italian P&C business for €330m

Allianz buys Aviva’s Italian P&C business for €330m

Allianz buys Aviva’s Italian P&C business for €330m

Allianz is buying Aviva’s Italian P&C operations for €330m, with the deal expected to close in the second half of this year. The acquisition of Aviva Italia includes its 500 agents and will consolidate Allianz’s position as the third-largest player in the Italian P&C market. The Aviva Italia portfolio is equally distributed between motor and non-motor business, with gross written…

Anra in discussion with insurance supervisor on captive formation in Italy

Anra in discussion with insurance supervisor on captive formation in Italy

Anra in discussion with insurance supervisor on captive formation in Italy

Italian risk management association Anra is in an “informal” and “cordial” dialogue with the national insurance supervisor IVASS to ensure it is as easy as possible for Italian companies to form and use captives, as they struggle to deal with the dramatically hardening insurance market. This move comes as French risk management association AMRAE is awaiting proposals from its Finance Ministry…

Italian risk managers focus on teamwork to cope with cyber risk explosion

Italian risk managers focus on teamwork to cope with cyber risk explosion

Italian risk managers focus on teamwork to cope with cyber risk explosion

Keeping up with the evolution of cyber risks was already complex before the arrival of the pandemic. The forced rise in remote working and the consequent increase in digital exposures made it an even more challenging threat for any type of organisation. To help identify the fast-evolving exposure for risk managers, Italian risk and insurance management association Anra brought together…

GDPR fines up 39% in 2020

GDPR fines up 39% in 2020

GDPR fines up 39% in 2020

Regulatory fines for data breaches under the GDPR increased 39% in Europe during the past year to €158.5m, according to new research from law firm DLA Piper. The company said regulators “tested their powers” under the GDPR in 2020 after a slow start during the regulation’s first 20 months when fines totalled €114m. Total fines levied since the GDPR was…

Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades

Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades

Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades

The world will be more unstable, less cooperative and more prone to crises this year, with the risk of interstate conflicts higher than it has been for decades, warns Risk Advisory’s Strategic Outlook 2021. The risks consultancy’s report says that the global security and geopolitical outlook is broadly worsening this year in North America, west and central Africa, south Asia…

Focus shifts to self-insurance incentives as AMRAE welcomes government statement

Focus shifts to self-insurance incentives as AMRAE welcomes government statement

Focus shifts to self-insurance incentives as AMRAE welcomes government statement

The Italian and Spanish risk and insurance sectors have joined their peers in the UK, Germany and France in calling for state support to help companies cope with future systemic risks following the catastrophic impact of Covid-19. But it seems that focus is shifting away from demand for monoline state-backed insurance pools towards broader-based incentives for greater risk management, self-insurance…