Assicurazioni Generali

Generali Completes Acquisition of Conning

Retrieved on:

Wednesday, April 3, 2024

Finance, Banking, Professional Services, Asset Management, Insurance, Assicurazioni Generali, Generali, Partnership, Acquisition, GIH, Conning, FINRA, Network affiliate, Cathay, Financial services

Conning Holdings Limited (Conning and its Affiliates1), a leading global asset manager serving the needs of insurance company and institutional clients, today announced that its acquisition by Generali Investments Holding S.p.A. (GIH), an entity comprising the majority of asset management activities of Generali Group (Generali), has closed.

Key Points:

Conning Holdings Limited (Conning and its Affiliates1), a leading global asset manager serving the needs of insurance company and institutional clients, today announced that its acquisition by Generali Investments Holding S.p.A. (GIH), an entity comprising the majority of asset management activities of Generali Group (Generali), has closed.
"We are excited to embark on this long-term partnership with Generali, with identified growth areas and synergies in mind and to leverage our shared insurance industry heritage," said Woody Bradford, Chief Executive Officer and Chair of the Conning Holdings Limited Board.
Conning and its Affiliates will continue to execute their growth strategies with support from their continuing owner, Cathay Life Insurance Co. Ltd. (Cathay) and new owner Generali.
1 Conning, Inc., Octagon Credit Investors, LLC, Global Evolution Holding ApS and its group of companies, Pearlmark Real Estate, L.L.C., PREP Investment Advisers, L.L.C., Goodwin Capital Advisers, Inc., Conning Investment Products, Inc., a FINRA-registered broker-dealer, Conning Asset Management Limited, and Conning Asia Pacific Limited

XAI Octagon Floating Rate & Alternative Income Term Trust Announces Shareholder Approval of Important Proposals

Retrieved on:

Wednesday, January 24, 2024

Consulting, Asset Management, Professional Services, Finance, Wind, Octagon, Conning, Investment, Term, Conning (company), Acquisition, Assicurazioni Generali, Growth

XAI Octagon Floating Rate & Alternative Income Term Trust (the “Trust”) (NYSE: XFLT) announced that its shareholders have approved two important proposals at the reconvened special meeting of shareholders (the “Special Meeting”) held today.

Key Points:

XAI Octagon Floating Rate & Alternative Income Term Trust (the “Trust”) (NYSE: XFLT) announced that its shareholders have approved two important proposals at the reconvened special meeting of shareholders (the “Special Meeting”) held today.
An amendment to the Trust’s Second Amended and Restated Declaration of Trust (the “Term Amendment”) to eliminate the Trust’s termination date of December 31, 2029 and make the Trust perpetual.
The Term Amendment, which is the first of its kind for a listed term trust closed-end fund, removes the Trust’s previous termination date and makes it a perpetual closed-end fund.
In connection with the Term Amendment, the Trust will change its name from XAI Octagon Floating Rate & Alternative Term Trust to XAI Octagon Floating Rate & Alternative Trust.

AM Best Affirms Credit Ratings of Assicurazioni Generali S.p.A. and Its Main Rated Subsidiaries

Retrieved on:

Friday, December 8, 2023

Banking, Professional Services, Insurance, Finance, Solvency, Acquisition, Risk management, Risk, Credit, Long-Term Capital Management, Assicurazioni Generali, AM Best, EUR, Liberty Seguros, FSR, Generali, Bank

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Assicurazioni Generali S.p.A. (Generali) (Italy) and its main rated subsidiaries.

Key Points:

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Assicurazioni Generali S.p.A. (Generali) (Italy) and its main rated subsidiaries.
Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of debt instruments issued or guaranteed by Generali.
The Generali group reported a Solvency II SCR ratio of 224% as of 30 September 2023 (year-end 2022: 221%).
The FSR of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) have been affirmed with stable outlooks for Assicurazioni Generali S.p.A. and its following subsidiaries:

XAI Octagon Floating Rate & Alternative Income Term Trust Announces Board Approval of Proposal to Become Perpetual Fund and New Sub-Advisory Agreement with Octagon Credit Investors

Retrieved on:

Thursday, October 26, 2023

XAI Octagon Floating Rate & Alternative Income Term Trust (the “Trust”) (NYSE: XFLT), announced that the Trust’s Board of Trustees (the “Board”) has unanimously approved a proposal to eliminate the Trust’s termination date of December 31, 2029.

Key Points:

XAI Octagon Floating Rate & Alternative Income Term Trust (the “Trust”) (NYSE: XFLT), announced that the Trust’s Board of Trustees (the “Board”) has unanimously approved a proposal to eliminate the Trust’s termination date of December 31, 2029.
The proposal, if approved by shareholders, will amend the Trust’s Second Amended and Restated Declaration of Trust and make the Trust perpetual (the “Term Amendment”).
The transaction will constitute an “assignment” of the current sub-advisory agreement among the Trust, XAI and Octagon, causing the current agreement to terminate according to its terms, and necessitating approval of the new sub-advisory agreement (the “New Octagon Agreement”).
The Term Amendment and the New Octagon Agreement (together, the “Proposals”) are subject to approval by the Trust’s shareholders.

Octagon Credit Investors names Gretchen Lam as Chief Executive Officer

Retrieved on:

Tuesday, October 17, 2023

Asset Management, Professional Services, Finance, Generali, Credit, Intelligence, Assicurazioni Generali, Babson College, CHL, CLO, Lisp (programming language), Growth, Conning, News, Temperament, Management, Investment, Octagon

Octagon Credit Investors, LLC (“Octagon”), a leading credit-focused investment manager overseeing $35 billion in total assets, is pleased to announce that Gretchen Lam, Senior Portfolio Manager, will succeed Andrew Gordon as Chief Executive Officer, effective January 1, 2024.

Key Points:

Octagon Credit Investors, LLC (“Octagon”), a leading credit-focused investment manager overseeing $35 billion in total assets, is pleased to announce that Gretchen Lam, Senior Portfolio Manager, will succeed Andrew Gordon as Chief Executive Officer, effective January 1, 2024.
Mr. Gordon commented, “Gretchen has been an integral part of Octagon’s success during her 20-plus years at the firm.
Gretchen possesses the right balance of intelligence, experience, and temperament to lead Octagon in the years ahead.
Ms. Lam said, “I am honored to serve as the next CEO of Octagon at an exciting time in the firm’s growth trajectory.

AM Best Withdraws Credit Ratings of Oman Insurance Company P.S.C.

Retrieved on:

Friday, July 28, 2023

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Oman Insurance Company P.S.C.

Key Points:

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Oman Insurance Company P.S.C.
Concurrently, AM Best has withdrawn the ratings as the company has requested to no longer participate in AM Best’s interactive rating process.
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

Conning and Its Affiliates to Be Acquired by Generali; Transaction Enhances Firms’ Long-Term Growth Plans

Retrieved on:

Thursday, July 6, 2023

Conning and its Affiliates will continue to execute their growth strategies with support from the firm’s current owner, Cathay Life Insurance Co. Ltd. (“Cathay”) and Generali.

Key Points:

Conning and its Affiliates will continue to execute their growth strategies with support from the firm’s current owner, Cathay Life Insurance Co. Ltd. (“Cathay”) and Generali.
Conning and its Affiliates will also benefit from regular interaction between the firms comprising Generali Asset Management to share best practices and leverage GIH’s shared operational and risk frameworks.
As part of the transaction, Cathay will enter into a partnership with Generali by contributing its ownership of Conning and its Affiliates in exchange for 16.75% ownership of GIH.
Broadhaven Capital Partners acted as financial advisor and Norton Rose Fulbright acted as legal advisor to Conning and its Affiliates and Cathay in relation to the transaction; Morgan Lewis advised Conning and its Affiliates on U.S. matters.

AM Best Affirms Credit Ratings of Oman Insurance Company P.S.C.

Retrieved on:

Wednesday, May 24, 2023

Professional Services, Insurance, Finance, AM Best, ALL, Assicurazioni Generali, Risk management, Credit, USD, GWP, Acquisition, AED, AM, Growth, News, United Arab Emirates, Reinsurance, Hariharan (singer)

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Oman Insurance Company P.S.C.

Key Points:

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Oman Insurance Company P.S.C.
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

AM Best Withdraws Credit Ratings of TUA Assicurazioni S.p.A.

Retrieved on:

Thursday, April 6, 2023

Professional Services, Finance, Generali, Insurance, AM Best, ALL, Assicurazioni Generali, TUA, Credit, Acquisition, AM, News

AM Best has maintained the under review with developing implications status for the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of TUA Assicurazioni S.p.A. (TUA) (Italy), a subsidiary of Assicurazioni Generali S.p.A. (Generali).

Key Points:

AM Best has maintained the under review with developing implications status for the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of TUA Assicurazioni S.p.A. (TUA) (Italy), a subsidiary of Assicurazioni Generali S.p.A. (Generali).
Concurrently, AM Best has withdrawn the Credit Ratings (ratings) as TUA has requested to no longer participate in AM Best’s interactive rating process.
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

AM Best Withdraws Credit Ratings of Societa Cattolica di Assicurazione S.p.A.

Retrieved on:

Thursday, April 6, 2023

Banking, Professional Services, Insurance, Finance, AM Best, ALL, Assicurazioni Generali, Risk management, Credit, Cattolica, AM, News, Generali

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Societa Cattolica di Assicurazione S.p.A. (Cattolica) (Italy), a subsidiary of Assicurazioni Generali S.p.A. (Generali).

Key Points:

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Societa Cattolica di Assicurazione S.p.A. (Cattolica) (Italy), a subsidiary of Assicurazioni Generali S.p.A. (Generali).
Concurrently, AM Best has withdrawn the ratings as Cattolica has requested to no longer participate in AM Best’s interactive rating process.
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.