EDIZIONE Holding plans to invest EUR 250 million to double its share in GENERALI

EDIZIONE Holding - one of the largest Italian investment group owned by the BENETTON family, plans to double its stake in insurer GENERALI to around 2%, wrote Reuters quoting a banking source.

"EDIZIONE Holding declined to comment on the issue", wrote Reuters.

EDIZIONE Holding is cash-rich after having sold a majority stake in airport retailer WORLD DUTY FREE in 2015. The acquisition of about 1% in GENERALI would cost about EUR 250 million at current market prices.

Currently, EDIZIONE Holding owns a stake of 0.94% in GENERALI and plans to boost its stake in Trieste-based insurer, "to as much as 2% as part of a strategy to increase investments in the financial industry", according to people familiar with the matter announced Bloomberg.

The source quoted by Bloomberg notes that "the BENETTONS' investment vehicle (...), has already started to purchase GENERALI stock on the market".

EDIZIONE Holding is headed since 2016 by Marco PATUANO, the former TELECOM Italia Chief Executive Officer.

EDIZIONE Holding controls toll-road and airport operator ATLANTIA, the AUTOGRILL  restaurant chain, but also has investments in the clothing, insurance and real estate sectors.

According to its website, at the end of 2016 EDIZIONE reported consolidated revenues of EUR 11.6 billion and the subsidiaries of the Group employ more than 64,000 people. At December 2016 EDIZIONE's net asset value amounted to euro 11 billion.

Related articles

SCOR completes the acquisition of MutRe

French reinsurer SCOR said it has successfully completed its 100% acquisition of mutual reinsurer - MutRe S.A. SCOR has been a 33% shareholder and a major technical and commercial partner of MutRe since the company was created in 1998.




"Insurance and Pensions reloaded" - the 7th EIOPA Annual Conference

The 7th EIOPA Annual Conference takes place today in Frankfurt am Main, Germany. A review of the current supervisory covergence issues and of the prospects of the Pan European Personal Pension Product are on the event's agenda, together with analyzing the ways in which regulation may enable innovation.



"IIF2017 - Insurance in the DIGITAL World" Conference took place in Vienna

"IIF2017 - Insurance in the DIGITAL World" conference brought together in Vienna well-known insurance professionals from all over the world who analyzed the latest digital trends in the industry, taking into account the fast digitalization of the financial services providers' world, in particular in the insurance field, which is creating both huge opportunities and strong challenges for the players.



Croatian Insurance Days Live

On 9 November has started in Opatija, Croatia, the 2017 edition of the Croatian Insurance Days Conference, the traditional meeting of the Croatian insurance top professionals with their European peers. XPRIMM Publications are supporting the event as Media Partners.



The 2017 Baden Baden Meeting: Short recap

The Baden-Baden meeting, one of the key events in the reinsurance calendar, has just set the final point of this year's edition. XPRIMM Publications have reported from the meeting's premises. Let's recap!


Baden Baden Headlines 3: CEE insurance markets are attractive for reinsurers

Central and Eastern Europe insurance markets are an important source of business for Lloyds, total premium income from this region increasing by EUR 64 million since 2010, pointed out the Lloyd's representative in a seminar dedicated to CEE insurance markets: "We are seeing strong growth from Czech Rep, Poland, Slovakia and Ukraine. At the same time are some contractions from Russia, Bulgaria, Romania and Hungary due to challenging trading conditions as political implications and other sanctions".


Baden Baden Headlines 2: cyber insurance market set to grow under regulatory presure; nat cat events more frequent, but losses per event are decreasing

Asian insurance market, especially the Indian market - are considered to be "the new El-Dorado" of the global re/insurance market, with rapidly expanding markets and an dynamic environment: "Indian P&C re/insurance markets are expected to grow at a pace of 15% per annum", according  to Victor PEIGNET, CEO, Global P&C, SCOR SE. The French -based reinsurer setted-up its Indian branch in 2016, after the authorisation from the local market authority - IRDAI. India's re/insurance market has become more attractive for global companies following the relaxation of regulatory requirements, and lately, "big names" in the industry entered the market by opening branches: GEN Re, SCOR, Lloyd's of London, MUNICH Re, SWISS Re, Reinsurance Group of America (RGA), HANNOVER Re, XL Catlin and others.


See all