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AssicurazioniGenerali


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Investors in state-owned Monte dei Paschi urged to back cash call

(Combines previous stories on ISS, Glass Lewis) MILAN, Aug 31 (Reuters) - Leading governance advisers Institutional Shareholder Services (ISS) and Glass Lewis have recommended that investors in Monte dei Paschi di Siena (MPS) BMPS.MI back a new share issue at a Sept. 15 shareholder meeting, documents showed on Wednesday. MPS, which is 64% owned by the state after a 2017 bailout, is looking to raise up to 2.5 billion euros ($2.51 billion) by issuing new shares.
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EU watchdog tackles insurance policy price differences

LONDON, July 11 (Reuters) - The European Union's insurance watchdog launched a public consultation on Monday to crack down on how insurers unfairly charge customers different prices for the same type of cover. The European Insurance and Occupational Pensions Authority (EIOPA) said it was looking in particular at so-called price walking. This practice refers to raising premiums when a policy is being renewed based on an assessment of how much of a hike a consumer would tolerate before shopping ar
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Financial Times - March 24

March 24 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines - Apple buys UK fintech start-up Credit Kudos Link - Chelsea to be allowed 30 mln stg cash injection from parent company Link - Tensions intensify at Generali as rival CEO candidate suspended Link - Credit Suisse loses case over banker who stole from billionaire clients Link - Renault suspends Russia business and looks at options f
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Generali suspends Donnet's internal rival in CEO race

MILAN, March 23 (Reuters) - Insurer Generali GASI.MI said on Wednesday it had suspended Luciano Cirina, its head of Austria and CEE countries, who has been proposed by a leading shareholder for the role of chief executive in a challenge to incumbent Philippe Donnet. The top Italian insurer is facing a power struggle over its board composition at a shareholder vote late next month.
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Allianz, Swiss Re join other financial firms in turning from Russia

* Allianz says stopped insuring new business in Russia * Swiss Re says not renewing business with Russian clients * Europe's securities regulator says ensuring orderly markets * Deutsche changes position late on Friday * FTSE Russell ejects four UK-listed, Russia-focused stocks By Tom Sims, Simon Jessop and Paul Arnold FRANKFURT/LONDON/ZURICH, March 14 (Reuters) - Allianz ALVG.DE and Swiss Re SRENH.S said on Monday they were cutting back on Russian business as European financial institutions tur
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Future Enterprises gets court nod for stake sale in Generali insurance venture

MUMBAI, March 8 (Reuters) - An Indian court has cleared the path for Future Enterprises' FURE.NS stake sale in its general insurance joint venture with Italy's Generali GASI.MI , an exchange filing showed on Monday. A Mumbai city court late last month put on hold Future's planned sale of its 25% stake in Future Generali India Insurance Company to Generali for 12.52 billion rupees ($162.82 million), after a legal challenge from some bondholders of Future companies that had defaulted.
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Financial Times - Feb 17

Feb 17 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines - Atom Bank valued at £435mn as it targets market listing next year Link - Generali chair expresses 'sadness' as he announces departure Link - UK to scrap 'golden visas' in crackdown on money laundering Link - Apple shareholders urged to vote against Tim Cook's $99mn pay package Link Overview - UK's Atom Bank has been valued at 435
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Activist Generali investors call for "open dialogue"

MILAN, Feb 15 (Reuters) - Two activist investors in Generali GASI.MI on Tuesday urged Italy's leading insurer to engage in "an open and constructive dialogue" to overcome issues that have held back its growth. Generali is at the centre of a shareholder battle pitting a group of investors including eyewear billionaire Leonardo Del Vecchio against its single biggest shareholder Mediobanca MDBI.MI .
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Activist Generali investors call for "open dialogue"

MILAN, Feb 15 (Reuters) - Two activist investors in Generali GASI.MI , including eyewear billionaire Leonardo Del Vecchio, on Tuesday urged Italy's leading insurer to engage in "an open and constructive dialogue" to overcome issues that have held back its growth. Del Vecchio's holding company Delfin and Fondazione CRT said in a joint statement it was important for a company of strategic importance for the country such as Generali to engage with shareholders and respect their rights.
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Activist Generali investors mull ending pact - sources

By Claudia Cristoferi and Andrea Mandala MILAN, Feb 8 (Reuters) - Two activist investors in Generali GASI.MI are considering ending their accord to consult over decisions concerning Italy's biggest insurer, two sources close to the matter said, after the agreement drew regulatory scrutiny. Europe's third-largest insurer is at the centre of a shareholder battle that has cast doubt on the reappointment of CEO Philippe Donnet, whose term ends in April.
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Billionaire Del Vecchio says Italian companies too focused on dividends -press

MILAN, Dec 28 (Reuters) - Billionaire Leonardo Del Vecchio said Italian companies often favour dividends to growth, daily Il Corriere della Sera quoted him as saying on Tuesday. "Dividends today are often at the expense of companies dimensional growth," he said. Del Vecchio, 86, is the founder of eyewear giant Luxiottica, now EssilorLuxiottica ESLX.PA , and the top investor in Italian merchant bank Mediobanca MDBI.MI .
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Generali CEO's new plan gets 11 votes out of 13, No.2 investor against it-sources

MILAN, Dec 14 (Reuters) - The board of Italy's top insurer Generali GASI.MI on Tuesday approved a new business plan presented by Chief Executive Philippe Donnet with 11 votes in favour out of 13, two people close to the matter said. Generali's second-largest shareholder, Italian magnate Francesco Gaetano Caltagirone, voted against the plan while a representative for Leonardo Del Vecchio, another leading shareholder, did not attend the meeting, the sources said.
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Generali CEO says it will present "very ambitious" 3-year plan on Dec. 15

MILAN, Oct 20 (Reuters) - Italy's top insurer Generali GASI.MI will announce a "very ambitious" new three-year strategic plan on Dec. 15 and is still looking at Europe and Asia for possible M&A opportunities, its chief executive said on Wednesday. Philippe Donnet, at the helm of the insurer since 2016, has come under fire from two shareholders -- the Italian businessmen Francesco Gaetano Caltagirone and Leonardo Del Vecchio -- who have criticised his M&A strategy as too timid and want Generali t
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After Wild West start, scooter providers chase scale to survive

By Nick Carey and Carolyn Cohn LONDON, Oct 14 (Reuters) - The era of breakneck growth for electric scooter firms is giving way to more selective expansion focused on profits as they face tougher regulations, more demanding customers and wary insurers. Hurt badly by global coronavirus lockdowns last year, companies offering by-the-minute rental of e-scooters say ridership is soaring to pre-COVID 19 levels among urban consumers eager to avoid public transport or taxis.
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Mediobanca, top investor Del Vecchio reach truce on bylaws changes

By Gianluca Semeraro and Valentina Za MILAN, Oct 8 (Reuters) - Mediobanca MDBI.MI on Friday endorsed a request by its top shareholder Leonardo Del Vecchio to ditch a rule reserving up to three board seats to managers of the Italian merchant bank. Welcoming the decision "with deep satisfaction," Del Vecchio in turn withdrew a second proposal to amend the company's bylaws, which had been criticised by Mediobanca's board.
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Mediolanum not necessarily looking at selling stake in Mediobanca - CEO quoted

MILAN, Oct 6 (Reuters) - A power struggle at Italy's Mediobanca does not necessarily mean that Banca Mediolanum BMED.MI would sell its 3.3% stake in the merchant bank, Mediolanum's chief executive was quoted as saying. Billionaires Leonardo Del Vecchio and Francesco Gaetano Caltagirone have built up stakes in Mediobanca and have been at odds with Mediobanca CEO Alberto Nagel over strategy at Italy's top insurer Generali.
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