The government is keen to ensure that Generali, which last month agreed to combine its asset management business with that of France-based Natixis, keeps its appetite for Italian sovereign debt at a time when Rome needs to borrow nearly €1 billion a day. The Trieste-based conglomerate is the government’s largest private-sector creditor. Rome had initially … Read more
ROME — Italy’s UniCredit has bought a stake in insurance giant Generali Group, according to two people familiar with the matter, adding another twist to a byzantine banking battle brewing in Italy’s north. Generali is in the crosshairs of several competing groups, including the Rome-allied billionaire Del Vecchio and Caltagirone families, as well as Milan-based investment … Read more
Expected claims payments to Los Angeles County wildfire victims appear to have exceeded $900 million for the state’s insurers of the last resort, allowing it to tap into “reinsurance” payments from back-up providers. In a statement released Thursday, Jan. 30, the California FAIR Plan reported receiving more than 4,400 claims from victims of the Palisades … Read more
Once debris from the Los Angeles County wildfires is cleared and rebuilding begins, attention will likely shift to the financial health of a small, but growing California fire insurance provider. The California FAIR Plan has an outsized share of the state’s riskiest policies because it is the insurer of last resort for home and building … Read more
For years, insurers have been pulling out of California due to deteriorating wildfires and growing risks of climate disasters, which have led to increased payouts and associated costs for these companies. Many insurers revoked fire coverage for thousands of homes and have been refusing to underwrite new policies in the Golden State. As a result, … Read more
WARWICK, R.I., Jan. 10, 2025 /PRNewswire/ — Cruising has reached new heights of popularity, with newer, larger ships, with incredible amenities – redefining the travel experience. As more travelers book these unique vacations, understanding the nuances of cruise travel insurance has become increasingly critical. Recent research by the experts at InsureMyTrip highlights a significant gap in … Read more
The trauma begins with an evacuation order. After rounding up your medications, personal documents, laptop, family photos and making your escape, you then spend endless, helpless hours worrying about whether your home will survive. Then, comes the unspeakable horror of learning your home has burned down. And that’s just the beginning of what can be … Read more
Hawkish Eastern European and Nordic countries including Poland and Sweden are keen to boost EU spending on defense, while Southern ones such as Italy and Greece would prefer more cash to stem migrant arrivals from Africa. In 2025, EU countries will set their red lines for the negotiations. But if the past is anything to … Read more
“Recent moves to delay and dilute vital regulatory protections reflect a worrying trend where ‘competitiveness’ is repeatedly used as a pretext to weaken essential safeguards against financial risks,” he said. Now, with Donald Trump returning to the White House in a matter of weeks, the future of the rules looks uncertain — which creates a … Read more
More than 350 prominent figures in China’s healthcare industry were punished in last year’s anti-corruption campaign as Beijing doubled down on its sweeping crackdown. According to a report from the National Supervisory Commission (NSC), China’s top anti-corruption watchdog, Beijing has worked to “thoroughly investigate” cases in which healthcare professionals exploit medical services and misuse insurance … Read more
