Hints and tips:
...Generali has experienced increased lapses in Italy and France, mostly in policies sold via banks....
...Flavio Cattaneo, currently a board member at insurer Generali and the former chief of state-controlled electricity infrastructure group Terna is the government’s preference for chief executive....
...Italian insurer Generali has acquired US asset manager Conning from Cathay Life in a deal that will create one of Europe’s largest investment groups....
...The move by Del Vecchio and Caltagirone has also put them at odds with Generali’s largest shareholder, Mediobanca....
...A fragmented Mediobanca board would have helped Caltagirone, who is expected to have a second run at overhauling the management of Generali in 2025. Mediobanca is the largest shareholder in Generali....
...Mediobanca’s boardroom struggle has more than a few echoes of the Generali tussle last year....
...Big share price moves in Europe today include Italian insurer Assicurazioni Generali, Anglo-Swedish drugmaker AstraZeneca and French retailer Casino....
...After being locked in a six-month power struggle over the future of Generali, Italy’s largest insurer, with two billionaire shareholders who were agitating for a management shake-up, Mediobanca’s chief is...
...The deal comes amid mounting speculation that Mediobanca’s next target could be Banca Generali, the private banking arm of Italian insurer Generali....
...Generali is worth about €30bn, employs roughly 75,000 people and serves approximately 67mn customers....
...The reasons for his departure have not been disclosed, Generali said in a statement on Friday....
...This is backed by the board and Generali’s largest shareholder Mediobanca. The investment bank, whose boss is the urbane Alberto Nagel, holds 12.8 per cent of Generali’s shares....
...A rival list, led by former Goldman Sachs banker Claudio Costamagna and former Generali executive Luciano Cirinà, garnered 42 per cent of the vote....
...The rebel shareholders have publicly criticised the management of Generali, with Caltagirone’s spokesperson calling the struggle a “battle for efficiency”....
...Shares in Generali were up 4.4 per cent to €20.27 in lunchtime trading....
...Generali declined to comment on the trades it reported to the regulator....
...Shares in Generali closed up 1.9 per cent at €19.42....
...Generali declined to comment....
...Generali’s largest shareholder, Mediobanca, appears happy....
...Where Del Vecchio struggled to show his magic touch was in the battle for control of Generali and Mediobanca....
...Generali’s long-time chair, Di Genola, had been Mediobanca’s chair until 2007. Generali declined to comment for this article....
...Governance at Generali is also a point of contention between Mediobanca and Del Vecchio and Caltagirone....
...“Banca Generali has stopped distribution of healthcare securities arranged by CFE, and decided to leave this business,” the bank said....
...Generali FY, Close Brothers H1, Old Mutual FY, Petrofac FY, RWE FY, TAG Immobilien FY, TP ICAP FY, Volkswagen FY Wednesday Canada, February CPI data International Energy Agency monthly oil market report...
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