By Pietro Lombardi 
 

Italy's Assicurazioni Generali SpA (G.MI) and U.S. insurance and financial services company Nationwide Mutual Insurance Company are launching a joint venture to offer multinational solutions for international commercial clients.

The joint venture, called N2G Worldwide Insurance Services, LLC, "will exclusively promote, distribute and administer insurance solutions for multinational exposures on behalf of both organizations," the companies said Wednesday.

The partnership is part of the Italian insurer's 2021 strategy, Generali's Marco Sesana said.

"This partnership between two insurance powerhouses will elevate the solutions we can offer to commercial members to help them protect their business across the globe with extraordinary care," said Mark Berven, President and COO of Nationwide Property and Casualty.

The JV will be based in New Jersey and should start business in the second quarter of the year.

Generali's Bill Skapof will be the chief executive officer.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

 

(END) Dow Jones Newswires

February 26, 2020 11:45 ET (16:45 GMT)

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