Posts Tagged ‘Italy’



July 10th, 2017

GC Securities* Completes First Ever Indemnity Triggered Multi-Europe Peril Only 144A Catastrophe Bond for Assicurazioni Generali S.p.A.

Posted at 5:15 AM ET

GC Securities, a division of MMC Securities LLC, a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of Principal At-Risk Variable Rate Notes, with notional principal at €200,000,000, through a newly formed special purpose vehicle domiciled in Ireland, Lion II Re DAC, to benefit Assicurazioni Generali S.p.A., an Italian insurance company and the parent company of the Generali Group. This is the third time that Assicurazioni Generali S.p.A. has utilized the insurance-linked securities market and is the first ever 144A cat bond to provide indemnity protection against multiple Europe perils.

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April 24th, 2017

Public Sector Risk Financing Perspectives in Europe/Middle East/Africa: Part III: Highlights of Recent Public Sector Initiatives

Posted at 1:00 AM ET

whitmore_charles_photo-sm3Charles Whitmore, Managing Director

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Following years of planning by the insurance Industry and negotiation with a wide group of stakeholders including the government, Prudential Regulatory Authority (PRA), the Financial Conduct Authority (FCA) and others, Flood Re launched in April 2016. The overarching aim of the market-based scheme is to ensure better access to more affordable household insurance for those in high flood risk areas.

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December 14th, 2016

Public Sector Risk Financing Perspectives in Europe/Middle East/Africa: Part III: Highlights of Recent Public Sector Initiatives

Posted at 1:00 AM ET

whitmore_charles_photo-sm3Charles Whitmore, Managing Director

Contact

Following years of planning by the insurance Industry and negotiation with a wide group of stakeholders including the government, Prudential Regulatory Authority (PRA), the Financial Conduct Authority (FCA) and others, Flood Re launched in April 2016. The overarching aim of the market-based scheme is to ensure better access to more affordable household insurance for those in high flood risk areas.

Continue reading…

April 28th, 2014

GC Securities* Completes 144A Indemnity Triggered Europe Windstorm Catastrophe Bond for Assicurazioni Generali S.p.A.

Posted at 11:30 PM ET

GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of Principal At-Risk Variable Rate Notes, with notional principal at €190,000,000, through a newly formed special purpose reinsurance vehicle domiciled in Ireland, Lion I Re Limited, to benefit Assicurazioni Generali S.p.A., an Italian insurance company and the parent company of the Generali Group. This is the first time that Assicurazioni Generali S.p.A. has utilized the cat bond market and is the first ever 144A cat bond to provide indemnity protection against Europe windstorm risks. Additionally, it is the first Italian sponsored catastrophe bond

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March 4th, 2014

Guy Carpenter Makes Senior Promotions

Posted at 11:30 PM ET

Guy Carpenter  today announced that Massimo Reina has been promoted to the position of CEO of Continental Europe and MENA, with immediate effect. He succeeds Peter Stubbings, who has taken up the position of Chairman of the firm’s Bermuda operations.

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September 4th, 2013

Guy Carpenter Appoints PSG Executive for France, Iberia & Italy

Posted at 11:00 PM ET

Guy Carpenter announced that Dorothée Mélis-Moutafis will join Guy Carpenter as Managing Director in the firm’s Property Solutions Group (PSG) with specific responsibility for France, Iberia and Italy, effective September 6, 2013.

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April 23rd, 2013

Italian Court Decision Encourages Strict Compliance with Industrial Safety Regulations

Posted at 1:00 AM ET

On December 12, 2007, there was a fire in an industrial plant in Turin that was owned and managed by ThyssenKrupp Acciai Speciali Terni S.p.a. (ThyssenKrupp), an Italian subsidiary of ThyssenKrupp Stainless group. The violent fire occurred in a cold annealing and pickling line, called APL5, where there is typically a significant amount of lubricant oil and paper, as well as sparks generated by the plant’s industrial process.

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September 11th, 2012

Guy Carpenter Report Details European Legislative Developments for Casualty Insurance Market

Posted at 11:30 PM ET

Guy Carpenter issued its semiannual analysis of key European legislative developments affecting the casualty insurance industry. Produced in collaboration with law firm Heuking Kühn Lüer Wojtek and its network of legal experts across Continental Europe, the report, Recent Legislative and Judicial Developments in Continental Europe Affecting the Casualty Insurance Industry, analyzes the most impactful and significant legislative changes and judicial developments across 11 jurisdictions, which include:

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May 21st, 2012

6.0Mw Earthquake in Northern Italy

Posted at 10:01 AM ET

may-21-italy-earthquake-smallA strong 6.0Mw earthquake hit northern Italy at 02:03 UTC (04:03 local time) on May 20, causing severe shaking in the Emilia Romagna region and surrounding areas. Damage has been reported across Emilia Romagna, particularly to historic buildings, commercial properties and agriculture in towns and cities close to the earthquake’s epicenter. According to the U.S. Geological Survey (USGS), the epicenter was within 10 kilometers (6 miles) of the towns of Camposanto, San Felice sul Panaro, Finale Emilia and Crevalcore, and it was also centerd a shallow 5.1 kilometers (3.2 miles) underground. Shaking was felt in the nearby city of Bologna and as far away as Milan and Venice, but no major damage was reported here.

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May 2nd, 2012

Continental European Legislative and Judicial Trends: Environmental Damages in Italy - Moving Towards a No Fault Liability System?

Posted at 1:00 AM ET

David Lewin, Managing Director
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EU Directive and Italian Statutory Provisions

With EU Directive n.35/2004 on Environmental Liability (ELD), the European legislator aimed to establish a harmonized legal framework based on the principle that “the polluter pays.” The main objective of ELD is to prevent and remedy environmental damage, which is defined as damage to protected species and natural habitats (nature), damage to water and damage to land (soil).

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