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CASS - Societa Cattolica Di Assicurazione SpA News Story

€5.59 -0.1  -2.4%

Last Trade - 24/01/22

Sector
Financials
Size
Mid Cap
Market Cap £960.3m
Enterprise Value £1.60bn
Revenue £4.21bn
Position in Universe 159th / 737

Italy's Cattolica to leave decision over Treasury shares to new board, CEO says

MILANO, March 25 (Reuters) - Italy's Cattolica Assicurazioni
 CASS.MI  has decided not to sell the group's treasury shares
after receiving informal interest from potential investors but
the decision on the sale will be left to the new board, its CEO
said on Thursday.
    In January, insurance watchdog IVASS urged the insurer to
take action over its governance and risk management practices,
including selling its shares, equivalent to 12.3% of its
capital.
    Cattolica Chief Executive Carlo Ferraresi told analysts that
the board would consider selling the insurer's shares only if
the price proposed was above market price.
    "The future board will take any decision on Treasury
shares", Ferraresi said, adding IVASS had requested to sell the
shares by the end of the year.

 (Reporting by Andrea Mandalà; editing by Maria Pia Quaglia)
 ((andrea.mandala@thomsonreuters.com; +390680307738;))
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