Edition:
United States

Societa Cattolica di Assicurazione Sc (CASS.MI)

CASS.MI on Milan Stock Exchange

8.83EUR
14 Dec 2017
Change (% chg)

€-0.35 (-3.81%)
Prev Close
€9.18
Open
€9.18
Day's High
€9.18
Day's Low
€8.77
Volume
1,095,129
Avg. Vol
907,459
52-wk High
€9.60
52-wk Low
€5.48

Latest Key Developments (Source: Significant Developments)

Cattolica Assicurazioni Places Subordinated 30-yr Bond of EUR 500 mln
Wednesday, 6 Dec 2017 03:43am EST 

Dec 6 (Reuters) - CATTOLICA ASSICURAZIONI ::SAID ON TUESDAY IT HAD PLACED A SUBORDINATED 30-YEAR BOND RESERVED TO QUALIFIED INVESTORS FOR THE TOTAL AMOUNT OF EUR 500 MILLION.MORE THAN 250 INVESTORS PLACED ORDERS FOR A TOTAL AMOUNT OF OVER EUR 3 BILLION, EXCEEDING THE TARGET BY ALMOST 7 TIMES.INITIAL COUPON IS 4.25 PCT UNTIL THE FIRST INTEREST RESET DATE AFTER TEN YEARS, WHICH IS ALSO THE CALL DATE.IF THE CALL IS NOT EXERCISED, THE BOND WILL BEAR A VARIABLE COUPON RATE.  Full Article

Cattolica Assicurazioni 9-mth net profit down at EUR 21 mln
Tuesday, 14 Nov 2017 12:28pm EST 

Nov 14 (Reuters) - SOCIETA CATTOLICA DI ASSICURAZIONE SC ::9-MONTH NET PREMIUMS EUR 3.34‍​ BILLION VERSUS EUR 3.19 BILLION YEAR AGO.9-MONTH NET PROFIT EUR 21‍​ MILLION VERSUS EUR 45 MILLION YEAR AGO.INDUSTRIAL TRENDS FORECAST FOR 2017 ARE CONFIRMED, NET OF Q3 ATMOSPHERIC EVENTS.BOARD RESOLVES TO ISSUE SUBORDINATED TIER 2 BOND OF UP TO EUR 500 MILLION.  Full Article

Banco Bpm to sell 65 pct stake in Avipop and Popolare Vita to Cattolica for Euro 853.4 mln
Friday, 3 Nov 2017 03:40pm EDT 

Nov 3 (Reuters) - Banco Bpm :Banco Bpm-‍reached agreement for sale of a 65% stake in Avipop Assicurazioni and popolare vita to Cattolica Assicurazioni, for euro 853.4 million​.Banco Bpm says ‍cattolica will have management control of insurance companies. Banco bpm will keep holding veto powers on significant strategic matters​.Banco Bpm says ‍Cattolica will finance this transaction with internal resources and by accessing debt capital markets.​.Banco Bpm says ‍transaction will be accretive on Cattolica's earnings, while designed financing structure will preserve its solid capital ratios​.‍Cattolica will appoint CEO of insurance companies, while Banco Bpm will appoint general manager​.  Full Article

S&P raises ratings of Italy's Cattolica and Allianz's Italian unit
Tuesday, 31 Oct 2017 12:45pm EDT 

Oct 31 (Reuters) - Credit rating agency Standard & Poor's says: :Raised long-term ratings of Italy's Cattolica Assicurazione from 'BBB' to 'BBB-' following Italy's sovereign upgrade.Raised long-term ratings of Italian unit of German insurer Allianz from 'A' to 'A-' .Revising up to 'intermediate' from 'moderate' its assessment of industry and country risk for the Italian life and property/casualty sectors .  Full Article

Banco BPM picks Cattolica for exclusive talks on bancassurance deal
Tuesday, 17 Oct 2017 02:14pm EDT 

Oct 17 (Reuters) - Banco BPM says on Tuesday::enters exclusive talks with insurer Cattolica Assicurazioni over a bancassurance partnership regarding life and non-life business.period of exclusivity of two weeks will be granted to finalise the terms of the deal .  Full Article

Italy's Popolare Vicenza sells 9 pct of insurer Cattolica to Berkshire Hathaway
Thursday, 5 Oct 2017 12:00pm EDT 

Oct 5 (Reuters) - Italian lender Banca Popolare di Vicenza says::has sold 9.047 percent stake in Italian insurer Cattolica Assicurazioni.stake to be sold to a company controlled by Berkshire Hathaway.stake sold at 7.35 euros per share for total of 115.9 million euros.  Full Article

Italy's Cattolica files binding offer for bancassurance deal with Banco BPM
Wednesday, 27 Sep 2017 11:52am EDT 

Sept 27 (Reuters) - Cattolica Assicurazioni says: :presents binding offer for bancassurance partnership with Banco BPM.offer is for the acquisition of a majority ownership in Popolare Vita and in Avipop Assicurazioni as well as for the subscription of an agreement for the distribution of Life and P&C Insurance products.  Full Article

Cattolica Assicurazioni appoints Enrico Mattioli CFO
Friday, 1 Sep 2017 11:37am EDT 

Sept 1 (Reuters) - SOCIETA CATTOLICA DI ASSICURAZIONE SC ::APPOINTS ENRICO MATTIOLI CHIEF FINANCIAL OFFICER.  Full Article

Cattolica Assicurazioni H1 net profit at EUR 1 mln
Wednesday, 2 Aug 2017 11:44am EDT 

Aug 2 (Reuters) - SOCIETA CATTOLICA DI ASSICURAZIONE SC ::H1 NET PROFIT EUR 1 MILLION VERSUS EUR 17 MILLION YEAR AGO.H1 TOTAL PREMIUMS WRITTEN FOR DIRECT AND INDIRECT BUSINESS AT € 2,624 MILLION, UP 3.8% YEAR ON YEAR.  Full Article

Italy's Cattolica says 67 mln euros in writedowns to weigh on FY net profit
Thursday, 27 Jul 2017 01:00am EDT 

July 27 (Reuters) - Societa Cattolica Di Assicurazione says::To book writedowns worth 67 million euros ($78.69 million)this year due to new goodwill impairment tests.2017 net profit will be 67 million euros lower than previous estimate of 150 million euros .  Full Article

BRIEF-Cattolica Assicurazioni Places Subordinated 30-yr Bond of EUR 500 mln

* SAID ON TUESDAY IT HAD PLACED A SUBORDINATED 30-YEAR BOND RESERVED TO QUALIFIED INVESTORS FOR THE TOTAL AMOUNT OF EUR 500 MILLION