Assicurazioni Generali

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Assicurazioni Generali S.p.A.
Società per azioni
Traded as BITG
Industry Financial services
Founded 1831
Headquarters Trieste, Italy
Area served
Italy, Europe, Asia, Middle East, Americas
Key people
Gabriele Galateri di Genola (Chairman)
Mario Greco (CEO)
Alberto Minali (CFO)
Sergio Balbinot (Chief Insurance officer)
Sandro Panizza (CRO)
Nikhil Srinivasan (CIO)
Products Insurance, banking, investment management
Revenue €66 billion (2013 premiums)[1]
Profit €1.9 billion (2013 net result)[1]
Total assets €508 billion (end 2013 total AUM)[1]
Total equity €19.8 billion (end 2013 shareholder equity)[1]
Number of employees
77000 (end 2013)[1]
Subsidiaries Genertel, Alleanza Toro, Ina Assitalia, Europ Assistance Group

Assicurazioni Generali S.p.A. is the largest insurance company in Italy and one of the largest in Europe.[2] It has its headquarters in Trieste.[3] In 2010, Assicurazioni Generali Group was the second largest insurance group in the world by revenue after AXA.

Under the name of Imperial Regia Privilegiata Compagnia di Assicurazioni Generali Austro-Italiche, the company was founded on December 26, 1831. At the time, Trieste was the most important sea port of the Austro-Hungarian Empire. The company grew in importance, becoming one of the largest insurance operators both in Italy and in Central Europe. As of 2014, the company ranks 48th on the Fortune 500 Global 500 list of companies.[4]


The symbol of Assicurazioni Generali is derived from the flag of the Republic of Venice, dissolved by Napoleon three decades before the company was founded.
Generali's headquarters in Trieste, Italy.

Today Generali operates primarily in Europe, Middle East and East Asia, with large market shares in Italy, Poland, Germany (under the name of Generali Deutschland), France, Austria, Slovenia, Croatia, Serbia, Spain, Switzerland, Romania, Israel, Japan, China and Bosnia and Herzegovina, with secondary operations in Latin America, for example, in Panama. Generali's United States operations are concentrated in financial products management, a result of the group's acquisition of Business Men's Assurance Company of America (BMA) in 1990. In 2002, Generali sold BMA's life insurance arm to the Royal Bank of Canada.[5] In 2013, Generali sold its US reinsurance arm to Scor.[6]

On Jerusalem's Jaffa Road, the Generali Building (בניין ג'נרלי), built by the company in 1935, is still known by that name although the company operated its Jerusalem branch in the building only from 1935 to 1946.[7] The Generali Building is still owned by the Italian insurance firm through its local representative, the Migdal Insurance Company.[8] The building currently houses various government offices, including the Jerusalem District Administration, the Ministry of Interior, the Department of Immigration and Population Registry, and the Internal Auditing Office.[7] It is a famous Jerusalem landmark, due to the large and well-preserved stone statue of a winged lion on its roof; this is the Lion of Saint Mark, patron saint of Venice, and the symbol of the Generali insurance company[7][9] which appears on all of its branches worldwide since 1848.[8]

In Serbia the company operates under the name Delta Generali - a joint venture of Assicurazioni Generali and Serbian Delta Holding.

In India the company is represented by Future Generali, a joint venture of Future group and Assicurazioni Generali.

Subsidiaries of the group includes, in Italy: Genertellife, INA Assitalia, Alleanza - Toro, Genertel, Europ-Assistance and Banca Generali.

Bank ownership[edit]

Assicurazioni Generali was an active owners of Italian bank, such as Banca Intesa (7.54% direct and indirect ownership[10]) and Banca Nazionale del Lavoro (8.71980% in 2004[11]) as minority owner. Both banks were no longer held by Generali Group.

Banca Generali is the subsidiary of Assicurazioni Generali.

Shareholder structure[edit]

As of 23 December 2014, Assicurazioni Generali's largest shareholder was Mediobanca with 13.45%. Other declared shareholdings at this date were Cassa Depositi e Prestiti (2.57%), B&D Holding di Marco (2.43%), People's Bank of China (2.01%), Leonardo Del Vecchio (2.00%) and Francesco Gaetano Caltagirone (2.00%).[12]

Notable employees[edit]

  • Franz Kafka worked for nearly nine months (between November 1, 1907, and July 15, 1908) at the Assicurazioni Generali office in Prague.

See also[edit]


  1. ^ a b c d e "2013 Annual integrated report". Generali. 
  2. ^ "Assicurazioni Generali SpA Company Profile". Yahoo! Finance. Archived from the original on 5 March 2007. Retrieved 2007-03-29. 
  3. ^ "Company References." Assicurazioni Generali. Retrieved on 8 July 2010.
  4. ^ "Assicurazioni Generali - Global 500 2014 - Fortune". Fortune. 2014. Retrieved 10 September 2014. 
  5. ^ "Generali will sell BMA's life insurance operations". Kansas City Business Journal. 2002-04-30. Retrieved 2015-01-11. 
  6. ^ Jucca, Lisa; Christian Plumb (2013-06-04). "Generali sells U.S. unit to Scor in $920 million deal". Reuters (Milan/Paris). Retrieved 2015-01-11. 
  7. ^ a b c Even-Or, Shmuel (May 1984). ירושלים: בניינים בעיר החדשה [Jerusalem: Buildings in the New City]. Kardom, Bimonthly Journal of Information about the Land of Israel (in Hebrew): 20–23. 
  8. ^ a b בניין ג'נראלי [Generali Building] (in Hebrew). All About Jerusalem. 2014. Retrieved 3 April 2014. 
  9. ^ Bar-Am, Aviva (19 September 2003). "Return to Bevingrad". The Jerusalem Post. Retrieved 3 April 2014.  (subscription)
  10. ^ 2006 Annual report Banca Intesa
  11. ^ 2004 bilancio Banca Nazionale del Lavoro (Italian)
  12. ^ "Azionisti rilevanti di ASSICURAZIONI GENERALI SPA". Commissione Nazionale per le Società e la Borsa. Retrieved 27 December 2014. 

External links[edit]