Generali Italia Company Profile and Operations

Generali Italia is a subsidiary of the Generali Group, a multinational insurance and financial services company. The company was founded in 1831 in Trieste, Italy.

Generali Italia offers a wide range of insurance products, including life, non-life, and asset management services. Its operations are spread across various regions in Italy.

The company has a significant presence in the Italian market, with a strong network of agents and brokers.

On a similar theme: PNC Financial Services

Generali Italia was founded on July 1, 2013, when the Italian branch of Assicurazioni Generali was transferred to INA Assitalia and the name was changed to Generali Italia SpA.

The company's first chairmen was Sergio Balbinot, who led the company until the approval of the 2013 financial statements. Raffaele Agrusti was the CEO during this time.

In May 2016, Marco Sesana took over as Chief Executive Officer and General Manager, starting a new phase for the company. Two new companies were born during this time: Generali Welion, an integrated welfare company, and Generali Jeniot, which deals with IoT services and connected insurance.

Generali's partnership with Cattolica began in June 2020, with Generali acquiring a 24.4 percent stake in the company. By November 2021, Generali held 84.475 percent of Cattolica's share capital.

Expand your knowledge: Business Liability Insurance New York

The history of Generali is a long and complex one, spanning over a century. The company was founded in 1920 by Edgardo Morpurgo, who ushered in a phase of international expansion.

Generali had a presence in sixty branches and agencies across thirty countries by 1924. It had established eight overseas management offices and expanded to include twenty-nine subsidiaries in Europe, four in the Americas, two in Africa, and one in Asia.

The company's image was managed by Marcello Dudovich, contributing to its growing reputation. Alleanza Assicurazioni was acquired during this period, further expanding Generali's reach.

However, the mid-1930s brought challenges, as the rise of racial laws and the tightening relationship with Fascism created a difficult environment. This led to the resignation of the Morpurgo, who was serving as president at the time, and the handover of the presidency to Giuseppe Volpi di Misurata.

Generali faced significant challenges during World War II, including German and Yugoslav occupations and the subsequent British-American administration of the Free Territory of Trieste. The company's branches in Eastern countries were expropriated under the presidencies of Antonio Cosulich and Mario Abbiate.

Expand your knowledge: Bank One Mauritius

In 1974, Generali established Genagricola, which focused on the Group's agricultural activities. This marked a significant shift in the company's focus towards more specialized areas.

Here is a brief timeline of Generali's major milestones:

Generali's history is a testament to its ability to adapt and evolve over time.

Assicurazioni Generali has a diverse shareholder structure, with various stakeholders holding significant shares. As of 13 December 2024, institutional investors held 34.94% of the company's shares.

Mediobanca S.p.A. is another major shareholder, owning 13.10% of Assicurazioni Generali's shares. Del Vecchio Group also has a notable stake, holding 9.93% of the company's shares.

Italian investors have a strong presence in the company, owning 66.01% of the share capital. This is a significant proportion, reflecting the country's influence in the company's ownership.

Here's a breakdown of the shareholder structure as of 13 December 2024:

UniCredit also announced a stake in Assicurazioni Generali, holding 4.1% of the company's shares as of 2nd February 2025. This adds another significant player to the company's shareholder structure.

Generali Italia has a significant presence in Italy, with 11 million customers and 15 thousand employees. The company has a vast network of distributors, with 40,000 plus bancassurance partners.

The company's total premiums in 2022 reached €28 billion. This demonstrates the company's strong financial standing and ability to attract a large customer base.

Generali Italia's service companies have been expanding rapidly, with notable acquisitions including Toro Assicurazioni in 2006 and INA Assitalia in 2000.

Curious to learn more? Check out: Telecom Italia Investor Relations

Generali Italia has a significant presence, serving 11 million customers through its subsidiaries. This is a testament to the company's commitment to providing insurance services to a wide range of people.

The company's financial performance is also noteworthy, with €28BN in total premiums in 2022. This figure highlights the company's ability to generate significant revenue.

Generali Italia has a large workforce, with 15 thousand employees. This is a significant number, and it's likely that the company has a complex organizational structure.

The company's distribution network is also extensive, with 40,000 distributors plus bancassurance. This suggests that Generali Italia has a strong retail presence and is able to reach a large number of customers through various channels.

Here's a summary of Generali Italia's key statistics:

In 2013, Generali underwent a significant corporate restructuring, incorporating the Italian branch of Assicurazioni Generali into INA Assitalia, forming Generali Italia.

Philippe Donnet took on the role of Managing Director and Country Manager in Italy, and later became CEO of the Generali Group in March 2016.

During the same 2013 restructuring, Generali Italia encompassed Toro Assicurazioni, Lloyd Italico, and Augusta Assicurazioni.

In 2022, Philippe Donnet was reappointed as CEO for a third term, and Andrea Sironi was elected president of the Group.

In June 2023, Generali announced the acquisition of Liberty Seguros, a competitor operating in Spain and Portugal's non-life insurance sector.

As a result of this acquisition, Generali rose to become the fourth non-life insurance company in Spain, the second in the Portuguese market, and entered the top ten in the sector in Ireland and Northern Ireland.

Additional reading: Bank of Ireland 365 Ie

On July 6, 2023, Generali acquired Conning and its subsidiaries, bolstering its asset management activities.

This acquisition was followed by a ten-year partnership with Cathay Life, making Cathay Life a minority shareholder in Generali Investment Holding.

As a result, Generali's total assets under management increased to 775 billion euros, making it the ninth European player in terms of assets under management.

For another approach, see: Cathay Financial Holding Co Ltd