ARZGY - Assicurazioni Generali S.p.A.

Other OTC - Other OTC Delayed Price. Currency in USD
9.84
0.00 (0.00%)
At close: 10:08AM EST
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Previous Close9.84
Open9.84
Bid0.00 x 0
Ask0.00 x 0
Day's Range9.84 - 9.84
52 Week Range8.45 - 10.64
Volume310
Avg. Volume2,190
Market Cap31.746B
Beta (5Y Monthly)1.16
PE Ratio (TTM)12.11
EPS (TTM)0.81
Earnings DateN/A
Forward Dividend & Yield0.50 (5.11%)
Ex-Dividend DateMay 19, 2019
1y Target EstN/A
  • Reuters

    Slovenia FDI net inflow eases to 0.8 bln euros in 2019

    Net inflow of foreign direct investments to Slovenia totalled 0.8 billion euros ($868 million) in 2019 compared to some 1.2 billion a year before, the Bank of Slovenia said in a report on Thursday. Slovenian investments abroad increased by only 126 million euros last year, compared to 227 million euros a year before. The export-oriented 46-billion-euro economy hopes to attract more foreign investment in the coming years to increase economic growth and competitiveness.

  • Ray-Ban Tycoon Eyes Bigger Mediobanca Stake in Italy Bet
    Bloomberg

    Ray-Ban Tycoon Eyes Bigger Mediobanca Stake in Italy Bet

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Sixty years after Leonardo Del Vecchio left Milan as a humble metalworking apprentice, the eyewear tycoon is set to make his biggest splash yet in Italy’s business capital with a plan to boost his stake in Mediobanca SpA.After jolting Milan’s business establishment last year with the surprise announcement of a $1 billion investment in the crown jewel of the city’s finance industry, the 84-year-old is seeking approval to raise his stake to as much as 20%, people familiar with the process said, asking not to be identified discussing private deliberations.Already Mediobanca’s largest shareholder, the move by Del Vecchio -- who made his fortune as founder of Luxottica SpA -- to expand on his 10% holding would increase his sway over the iconic investment bank, long a linchpin of the Italian economy.Officials from the Bank of Italy and the European Central Bank have held informal talks with Del Vecchio’s representatives on a preliminary request to raise the stake, people familiar with the approval process said. Still, the timing and scope of any deal remain uncertain, they said. An ECB spokesman declined to comment, as did a spokesman for the Bank of Italy.The move could spark the exit of other shareholders fearing a loss of control. While Del Vecchio has said he wants to bring stability to the bank, analysts and local media have speculated he’s really targeting governance changes and more influence at Assicurazioni Generali SpA, the insurer in which Mediobanca is the single biggest investor.But Del Vecchio’s plan may be more straightforward than that.With the bulk of his $25.3 billion net worth tied up in the eyewear business, Del Vecchio, who has six children from three partners, wants to diversify into banking, according to people familiar with his strategy. Finance investments offer higher returns than what he gets from sales of optical lenses and Ray-Ban and Oakley sunglasses.Del Vecchio and his Delfin holding company declined to comment for this story.Mediobanca pays a dividend yield of over 5%, compared with 1.5% for EssilorLuxottica SA -- formed from the 2018 merger of France’s Essilor SA and Luxottica, which Del Vecchio founded in the 1960s and built into the world’s largest eyewear company.The billionaire intends to support Mediobanca Chief Executive Officer Alberto Nagel as long as he delivers the expected returns, the people said -- and Nagel has promised investors 2.5 billion euros ($2.8 billion) in dividends and buybacks in a four-year plan.Asked if the Del Vecchio plan could be a threat to Mediobanca’s performance, Nagel replied that the lender needs a shareholder structure “comparable to other listed banks doing the same job.” Speaking on a conference call Thursday with analysts, he said, “I don’t think it’s in the mind of any investor, in particular Delfin, to work against this.”Del Vecchio’s move is designed to make Mediobanca “more aggressive, especially as far as external growth is concerned,” said Stefano Girola, a portfolio manager at Alicanto Capital SGR in Milan. “I welcome this move, it could help create value.”Mediobanca shares rose as much as 3.4% in Milan, and traded up 2.4% at 10 a.m. local time.For Del Vecchio, the prestige of becoming Mediobanca’s top shareholder also marks the culmination of a rags-to-riches tale. Reared in a Milan orphanage from the age of seven, Del Vecchio eventually left the city to start making eyeglasses in the Dolomite mountains. Luxottica now produces some 87 million frames a year at sites from Brazil to China.While Italy hosts few global champions -- even EssilorLuxottica is headquartered in France -- Del Vecchio wants to preserve Mediobanca’s Italian roots and is prepared to defend the bank from hostile takeover approaches, the people said.Key AidesThe billionaire could even use his own funds to support the investment bank’s expansion, they said, adding that aides Francesco Milleri, Luxottica’s CEO, and JP Morgan Chase & Co.’s Vittorio Grilli, an ex-finance minister, are helping with strategy.Mediobanca, founded in 1946 to help finance post-war reconstruction, was the hub of the country’s financial system for over 50 years, though the lender in 2013 made the dramatic decision to divest holdings and focus on retail and investment banking.Del Vecchio, no stranger to investments in financial companies, quietly built up a stake of less than 2% until announcing a 6.9% holding in September, the people familiar said.The billionaire has also been a shareholder in UniCredit SpA since its privatization in the 1990s; he now owns just under 2%. He’s amassed a direct 4.86% holding in Generali, Italy’s biggest insurer.In addition to its appeal as a dividend payer, Del Vecchio sees the opportunity to expand Generali into a top European player with strong Italian roots, the people said. While that’s an ambitious target, Del Vecchio has won tougher battles.The tycoon founded Luxottica on land he got for nothing, expanding through relentless focus on vertical integration and eventually gaining control over everything from assembly to retail. A 1990 New York listing helped fund a series of acquisitions to wipe out competitors.In 2017 he orchestrated the merger with global lens leader Essilor, a 50-billion-euro tie-up that got off to a rough start as the Italian and French factions clashed.That experience hasn’t put him off deals with French partners, though. In 2018, Del Vecchio forged a new real estate company, Covivio, by merging Italy’s Beni Stabili SpA with France’s Fonciere des Regions.The billionaire may soon gain the upper hand at EssilorLuxottica, where he’s the biggest investor with a 32% stake. After an initial shareholders pact expires next year, Del Vecchio could be in position to impose his leadership, first gaining a board majority, then accelerating operational integration.One thing’s certain: for Del Vecchio, the “fabbrica,” or factory, as he calls Luxottica, comes first. The executive remains on the lookout for new opportunities and retains a full-time M&A team to scout for deals, after buying GrandVision NV in a deal last year that valued the smaller Dutch retailer at about $8 billion. The deal is now facing an extended probe from European Union antitrust regulators.Even as he nears 85 years of age, the Italian billionaire is still looking for ways to expand the business he created from scratch in the small riverside town of Agordo. For 60 years, the entrepreneur has seen growth as the best defense against competitors, and he’s not done yet.(Updates with Mediobanca from 11th paragraph. An earlier version was corrected to say Ray-Ban in headline.)\--With assistance from Tom Metcalf.To contact the reporters on this story: Tommaso Ebhardt in Milan at tebhardt@bloomberg.net;Sonia Sirletti in Milan at ssirletti@bloomberg.net;Daniele Lepido in Milan at dlepido1@bloomberg.netTo contact the editors responsible for this story: Chad Thomas at cthomas16@bloomberg.net, Jerrold Colten, Chris ReiterFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Taking A Look At Assicurazioni Generali S.p.A.'s (BIT:G) ROE
    Simply Wall St.

    Taking A Look At Assicurazioni Generali S.p.A.'s (BIT:G) ROE

    One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...

  • 'Gold rush': Race is on for health data in East Europe's frontier market
    Reuters

    'Gold rush': Race is on for health data in East Europe's frontier market

    BUDAPEST/WARSAW (Reuters) - Eastern Europe is a new frontier for private medical care, and insurers and tech startups are racing to steal a march on their rivals by harnessing the region's health data. Growing numbers of people in Eastern European states, from Hungary and Poland to Romania, are turning to private health. The shift is being driven by rising wages, coupled with low public health spending which has often led to staff shortages and long waiting times for tests and surgery.

  • Is Now The Time To Look At Buying Assicurazioni Generali S.p.A. (BIT:G)?
    Simply Wall St.

    Is Now The Time To Look At Buying Assicurazioni Generali S.p.A. (BIT:G)?

    Let's talk about the popular Assicurazioni Generali S.p.A. (BIT:G). The company's shares received a lot of attention...

  • GAM’s Meltdown Is More Than a Storm in a Teacup
    Bloomberg

    GAM’s Meltdown Is More Than a Storm in a Teacup

    (Bloomberg Opinion) -- The suspension and subsequent dismissal of your star portfolio manager. The resignation of your chief executive officer. A 70% decline in your share price. Customers pulling 40% of their funds. Abandoned talks with potential buyers. If what Swiss fund manager GAM Holding AG has suffered in the past year and a half is, as an activist shareholder says, the result of “a mis-managed storm in a teacup,” then I’d hate to see the aftermath of a real crisis.GAM shareholder Bluebell Capital Partners has written to GAM Chairman David Jacob accusing the firm of taking “undue and unnecessary” actions in response to its investigation of Tim Haywood, who managed its flagship absolute return bond funds. Its decision in July 2018 to halt redemptions from those funds resulted in “massive self-inflicted shareholders’ value destruction,” Bluebell says in the letter, dated Nov. 28 and seen by my colleagues at Bloomberg News.The destruction in shareholder value is plain to see. But self-inflicted?A quick recap. Haywood was investing in unlisted securities issued by companies controlled by British industrialist Sanjeev Gupta. GAM initiated an investigation into what it called “some of his risk management procedures and his record keeping,” and suspended him in mid-2018. In November 2018, CEO Alex Friedman stepped down. In February of this year, GAM dismissed Haywood for “gross misconduct.” Investors have been pulling cash from the fund management firm ever since they first learned of the probe.Arguably, GAM acted too slowly in dealing with the issue. An internal whistle-blower first raised concerns about Haywood’s conduct in November 2017. In March 2018, the informant “expanded on the initial concerns” and got in touch with the Financial Conduct Authority, the U.K. financial services regulator — at which point GAM was duty bound to take action.But it wasn’t until the end of July 2018 that the company announced the suspension of Haywood (who has said he was being made a “scapegoat”) and halted redemptions from the funds he oversaw — a full eight months after the first alert.GAM is clearly still in deep trouble, as its share price illustrates. In October, it halted talks with potential suitors including Italian insurer Assicurazioni Generali SpA. Current CEO Peter Sanderson is now mulling staff cuts of as much as 40% of the workforce, my colleagues at Bloomberg News reported earlier this week. In many ways, GAM is emblematic of the fund management industry's ills, such as suffering from a cost base that’s out of line with its reduced circumstances as the downward pressure on fees remains relentless.So Bluebell may well be right to call for GAM to initiate a “strategic review” of its white-labeling business, which it says generates fees of just 4.3 basis points, compared with 53.9 basis points for the investment management arm. But to argue that the debacle was a “storm in a teacup” that the firm could somehow have downplayed strikes me as revisionist wishful thinking.To contact the author of this story: Mark Gilbert at magilbert@bloomberg.netTo contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Mark Gilbert is a Bloomberg Opinion columnist covering asset management. He previously was the London bureau chief for Bloomberg News. He is also the author of "Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Reuters

    Generali's MetLife gambit hits price snag - sources

    Italian insurer Assicurazioni Generali has held talks with U.S. rival MetLife Inc to buy the bulk of its European assets but discussions have stalled due to differences over price, four sources told Reuters. Generali, which ranks as Europe's third biggest insurer, first approached MetLife earlier this year offering to take on most of its underperforming European business whose adjusted earnings slipped 4% in the third quarter, the sources said. Representatives at Generali and MetLife declined to comment.

  • What Does Assicurazioni Generali S.p.A.'s (BIT:G) P/E Ratio Tell You?
    Simply Wall St.

    What Does Assicurazioni Generali S.p.A.'s (BIT:G) P/E Ratio Tell You?

    This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll show...

  • Del Vecchio says aims to build stable Mediobanca shareholder base
    Reuters

    Del Vecchio says aims to build stable Mediobanca shareholder base

    Billionaire investor Leonardo Del Vecchio, Mediobanca's biggest shareholder, said on Wednesday he aimed to create a stable ownership base for the Italian investment bank and Generali, the insurance giant it effectively controls through a 13% stake. Del Vecchio, founder of eyewear group Luxottica, became Mediobanca's biggest shareholder last week with a holding of just under 10% after the bank's decades-long partner UniCredit sold its entire stake. "Mediobanca and Assicurazioni Generali represent a strategic part of our economic system and need stability," Del Vecchio said in a statement that expressed support for the latest business plan unveiled by the bank on Tuesday.

  • Reuters

    Battle for Mediobanca: Italy's richest man takes on seasoned CEO

    MILAN/LONDON, Nov 12 (Reuters) - One comes from a wealthy family, attended Milan's best schools and has spent all his career engineering mergers at Mediobanca, Italy's most influential investment bank. The other was raised in an orphanage and was too poor to go to high school but at 84 is Italy's richest man, having built the world's biggest eyewear group from scratch. Mediobanca's boss Alberto Nagel, 54, and Leonardo Del Vecchio, who in less than two months has become the bank's top investor, are squaring off in a battle for control that is rattling the world of Italian finance.

  • Generali profits rise, capital reserves hit low interest rates in third quarter
    Reuters

    Generali profits rise, capital reserves hit low interest rates in third quarter

    Italy's biggest insurer Assicurazioni Generali reported a rise in 9-months profit on Thursday that was broadly in line with market estimates, though capital ratios fell due to regulatory changes and low interest rates. Generali's solvency ratio, a key measure of financial strength, stood at 204%, down from 217% at the end of 2018, due to expected regulatory changes and lower interest rates in the third quarter, the company said.

  • Investors Who Bought Assicurazioni Generali (BIT:G) Shares Three Years Ago Are Now Up 52%
    Simply Wall St.

    Investors Who Bought Assicurazioni Generali (BIT:G) Shares Three Years Ago Are Now Up 52%

    One simple way to benefit from the stock market is to buy an index fund. But if you choose individual stocks with...

  • What Kind Of Shareholders Own Assicurazioni Generali S.p.A. (BIT:G)?
    Simply Wall St.

    What Kind Of Shareholders Own Assicurazioni Generali S.p.A. (BIT:G)?

    If you want to know who really controls Assicurazioni Generali S.p.A. (BIT:G), then you'll have to look at the makeup...

  • Reuters

    UPDATE 3-Allianz seen as frontrunner for BBVA insurance arm - sources

    PARIS/MUNICH/MADRID, Oct 1 (Reuters) - German insurer Allianz has emerged as the frontrunner to invest in the bancassurance business of Spanish lender BBVA, two sources close to the deal told Reuters, after Italian rival Generali pulled out of the race. The deal is worth more than 1 billion euros ($1.1 billion)and is expected to be sealed by the end of the year, the sources said. If successful, it would give Allianz a platform to revive its Spanish distribution network after a previous agreement with Banco Popular came to an end following Popular’s sale to Santander in 2017.

  • Have Insiders Been Buying Assicurazioni Generali S.p.A. (BIT:G) Shares?
    Simply Wall St.

    Have Insiders Been Buying Assicurazioni Generali S.p.A. (BIT:G) Shares?

    It is not uncommon to see companies perform well in the years after insiders buy shares. The flip side of that is that...

  • Has Assicurazioni Generali S.p.A. (BIT:G) Improved Earnings In Recent Times?
    Simply Wall St.

    Has Assicurazioni Generali S.p.A. (BIT:G) Improved Earnings In Recent Times?

    When Assicurazioni Generali S.p.A. (BIT:G) announced its most recent earnings (30 June 2019), I did two things: looked...

  • Moody's

    Caja de Seguros S.A. -- Moody's announces completion of a periodic review of ratings of Caja de Seguros S.A.

    Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Caja de Seguros S.A. NOTE: On August 12, 2019, the press release was corrected as follows: The first sentence in the Key Rating Considerations paragraph was changed to: “We rate Caja de Seguros S.A.'s (Caja) insurance financial strength Ba3 on the global local currency scale.” Revised release follows. New York, August 07, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Caja de Seguros S.A. and other ratings that are associated with the same analytical unit.