"Arte Generali", a new entity dedicated to works of art

Arte GeneraliThe Italian group Generali enters the insurance market of works at with the launch of a new entity called "Arte Generali". Intended fpr collectors and owners of works of art, Arte Generali will ensure the prevention, protection and insurance of the most precious objects such as paintings, sculptures, porcelain, valuable jewelry.

Solutions to support the restoration and transport of works are also planned. Based in Munich, the new company will operate on the global level with the ambition to become, within five years, one of the three main players in this market.

Arte Generali's offer will be available to private customers in Germany by the end of 2019. It will soon be extended to other countries such as France, Italy, Austria, Switzerland, Spain, the United Arab Emirates... According to Generali, the value of art works will increase by 20% over the next three years. The insurance market in this sector will grow by 6% per year to reach 2.3 billion USD in premiums in 2022.

Read also | Fine arts insurance

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