Il Generali Group was awarded byAmerican Chamber of Commerce in Italy with the Transatlantic Award for the acquisition last July of Conning Holdings Limited da Cathay Life, a company controlled by Cathay Financial Holdings, one of the most important financial institutions in Asia. Conning Holdings Limited, based in the United States, is a leading global asset manager dedicated to insurance and institutional clients with approx 157 billion dollars of Assets Under Management.
Following the acquisition of Conning and its subsidiaries, the Assets under Management the Group's total will rise to 845 billion dollars 775 billion euros, making the Trieste-based company the ninth player at a European level. “Thanks to the transaction, Generali's diversified investment expertise and third-party client activities extend to the United States and Asia, in line with the Group's 'Lifetime Partner 24: Driving Growth' strategy,” a Generali statement said. When purchasing the company in July, Generali said that Cathay Life will become a minority shareholder of Generali Investments Holding, with approximately 16,75% of the capital and will launch a broader partnership with Generali.
Generali and the acquisition of Conning
Conning and its subsidiaries are "among the leading asset management companies globally dedicated to insurance companies and institutional clients", highlights Generali. All together they have approximately 157 billion dollars (144 billion euros) in assets under management. The business scope includes Conning (fixed income instruments for insurance and institutional clients), Octagon Credit Investors (bank loans, CLOs and alternative credit), Global Evolution (emerging market debt) and Pearlmark (debt and equity for real estate) .
The recognition was withdrawn by Carlo Trabattoni, CEO of Generali Asset & Wealth Management, during the seventeenth edition of the "Transatlantic Award Gala Dinner", which took place in the presence of the Minister of Foreign Affairs and International Cooperation, Antonio Tajani – who was recognized with the “Transatlantic Leadership Award” – of the Ambassador of Italy to the United States of America, Mariangela Zappia, and of Jack Markell, Ambassador of the United States of America in Italy.
