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Assicurazioni Generali S.p.A. said on Monday that it has launched Tribune, a property insurance product for U.S. multinational corporations that provides comprehensive coverage solutions for their U.S. and overseas property exposures.
The company has partnered with Birmingham, Michigan-based Belfor Property Restoration, under which Tribune clients can access a suite of remediation services for the multinational marketplace, Generali Group said in a statement.
Tribune has a global capacity of up to $250 million, according to the statement.
“Tribune was specifically designed to respond to the unique challenges of cross-border risk management for multinational corporations based in the U.S., and to avoid the pitfalls of insurance fragmentation across country lines,” Andrew Sims, senior vice president, property & construction at Generali global corporate & commercial U.S.A., said in a statement.
(Reuters) — New Assicurazioni Generali S.p.A. Chief Executive Philippe Donnet said he would stick to his predecessor's strategy after writedowns on BTG Pactual and other equity holdings pushed the Italian insurer's fourth-quarter earnings below forecasts.