Zurich reshapes and simplifies group structure
Mario Greco, the recently appointed chief executive of Zurich Insurance Group, has announced a company-wide reorganisation and named his new leadership team.
Generali
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Generali Germany folded into Generali Investments
Generali Investments Deutschland (GID) has been merged into Generali Investments, as part of the group’s strategy to streamline its global asset management operations.
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BTG Pactual demands over $100m from Generali over BSI fines
Brazilian investment bank Banco BTG Pactual is looking to recover more than $100m (£65.5m, €84.6m) from Italian insurer Generali in fines levied by the Swiss and Singaporean authorities against BSI bank.
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Singapore regulator orders BSI Bank shut down
In the “worst case of control lapses and gross misconduct seen in the Singapore financial sector” Switzerland-headquartered BSI Bank is to be shut down, with six former and current members of staff referred to the public prosecutor, the first such move by the Monetary Authority of Singapore (MAS) since 1984.
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Zurich Global Life steady, general insurance improves
Zurich Insurance Group reported a drop in net profits for the first quarter, after operating profits fell 23% in general insurance and a marginal decrease in the company’s Global Life business.
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Generali cites financial headwinds for Q1 fall in life sales
Italian insurer Generali blamed “poor financial market conditions” for a 6.9% Q1 fall in new life business, year on year, to €1.3bn (£1bn, $1.5bn).
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Blackrock reinforces dominance in European fund industry
Blackrock now manages more European investors’ money than the next two largest asset managers combined after the US-based asset manager saw strong inflows during the first quarter of 2016, according to data provided by Lipper.
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Generali and the post-merger plan
For the first time since the December 2015 merger with Generali International, Generali Worldwide’s Nick Griffin outlines the global family’s strategy and future plans.
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Generali to expand in Asia by pumping capital into Thailand
Italy’s largest insurer Generali will pump money into its Thai operations as part of plans to expand across Asia, Thai local media has reported.
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Life Trends: Industry flux opens opportunities for new players
Regulation, technology and the rapidly changing lifestyles of consumers is ushering in a period of unprecedented flux within the life industry, creating a rich seam of opportunity for new players.
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PEOPLE MOVES: AIG Singapore, Deutsche Bank, Generali, Thesis
Former Axa head Michael Bishop joins AIG Singapore’s board of directors, while Deutsche Bank hires a new chief governance officer. Generali Real Estate chief executive Christian Delaire resigns and asset management firm Thesis appoints Mike Hughes as a non-executive director.
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Generali names Greco replacement
Italian insurer Generali has appointed Philippe Donnet group chief executive, replacing Mario Greco who departed last month to take the top job at Zurich Insurance Group.