As the art prices have risen sharply in recent years, the Italian insurance company expects the art insurance market to grow as well: from $ 1.7 billion in 2017 to $ 2.3 billion in 2022.
Generali is the second largest primary insurance in Germany after the alliance. The group includes Aachen-Münchener and the direct insurer Cosmos. So far, Generali has not insured artworks; this business is considered a specialist in the industry.
The Italian company is headquartered in Trieste and, like other major insurance companies, has been hit by two adverse trends in recent years: the zero interest rate policy of the European Central Bank has shrunk investment returns and digitization is hampering traditional distribution through insurance brokers.
More: The estimated value of the stones stolen from the Green Vault in Dresden is up to one billion euros. Nevertheless, the pieces are at the same time as good as worthless.