Società Cattolica di Assicurazione S.p.A.
CASS.MI
Italian Stock Exchange6.75
EUR
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Società Cattolica di Assicurazione S.p.A.
CASS.MI
(Italian Stock Exchange)
Recent
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6.75
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ROIC.AI
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- Business
- Società Cattolica di Assicurazione S.p.A. (CASS.MI) operates as a diversified insurance provider primarily in Italy, offering a broad range of life and non-life products including vehicle insurance such as auto and motorcycle coverage with real-time technology solutions; health and accident policies like Active Protezione Salute&Benessere; property insurance covering fire, natural forces, and events such as hail; specialized solutions for religious entities and non-profits; life insurance encompassing savings, investment, and supplementary pension plans through brands like Cattolica Obiettivo Rendimento and Vera Vita S.p.A.; and additional services in credit, surety, financial loss, and reinsurance. The company, founded in 1896 and headquartered in Verona, Italy, serves individual, corporate, agricultural, and institutional customers through a network of agencies, banks, and financial advisors, with subsidiaries including Avipop Assicurazioni S.p.A., BCC Assicurazioni S.p.A., and Omega Life Designated Activity Co.; it maintains a primary focus on the Italian market while engaging in real estate and investment activities. Acquired by Assicurazioni Generali S.p.A. through a series of transactions including a €300 million capital increase in 2020, a tender offer in 2022 securing over 94% ownership, and full integration by 2023 when it became a division of Generali Italia with delisting from the Milan Stock Exchange on August 12, 2022, Cattolica benefits from ongoing synergies projected to reach €130 million, enhanced by commercial partnerships in asset management, IoT, health, and reinsurance. In March 2023, IVASS authorized the merger of Genertel into Cattolica, resulting in a brand renaming to Genertel and relocation of legal headquarters to Trieste, aligning with Generali's broader strategic framework.