Assicurazioni Generali

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Generali Group
Company typeSocietà per azioni
BIT: G
IndustryFinancial services
Founded1831; 193 years ago (1831)
Headquarters
Trieste
,
Italy
Area served
Italy, Europe, Asia, Middle East, Americas
Key people
Gabriele Galateri di Genola (Chairman)
Philippe Donnet (CEO)
Alberto Minali (CFO)
Sandro Panizza (CRO)
Nikhil Srinivasan (CIO)
ProductsInsurance, banking, investment management
Revenue€66 billion (2013 premiums)[1]
5,514,000,000 Euro (2022) Edit this on Wikidata
€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
77,000 (end 2013)[1]
SubsidiariesGenertel, Alleanza Toro, Ina Assitalia, Europ Assistance Group
Websitewww.generali.com

Generali Group is the largest insurance company in Italy and third in the world.[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. The company is a component of the Euro Stoxx 50 stock market index.[4]

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 Global 500 list of companies and 43rd on MITs worldwide "Smartest Companies" ranking in 2015.[5]

Operations

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.
Original metal plaque with raised gilt signature and Lion of Saint Mark, 1924-1940.
Palazzo delle Assicurazioni Generali in Florence, 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, The Netherlands, Croatia, Serbia, Spain, Switzerland, Romania, Israel, Japan, China and Bosnia and Herzegovina, with secondary operations in Latin America. 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.[6] In 2013, Generali sold its US reinsurance arm to Scor.[7]

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.[8] The Generali Building is still owned by the Italian insurance firm through its local representative, the Migdal Insurance Company.[9] 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.[8] 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[8][10] which appears on all of its branches worldwide since 1848.[9]

In India the company is represented by Future Generali, a joint venture of Future group and Assicurazioni Generali. It provides both life and property/casualty insurance. The Life business is known as Future Generali India Life Insurance Company Limited.[11]

Main Subsidiaries of the group includes, in Italy: Genertellife, Alleanza Assicurazioni, Generali Italia and Banca Generali.

In France: Europ Assistance

Bank ownership

Assicurazioni Generali was an active owner of Italian banks, such as Banca Intesa (7.54% direct and indirect ownership[12]) and Banca Nazionale del Lavoro (8.71980% in 2004[13]) as minority owner. Both banks are no longer held by Generali Group.

Banca Generali is the subsidiary of Assicurazioni Generali.

Shareholder structure

As of June 2016, Assicurazioni Generali's largest shareholders were:[14]

  • 13.46% Mediobanca S.p.A.
  • 3.00% Caltagirone (Francesco Gaetano)
  • 2.01% Government of People's Republic of China
  • 2.00% del Vecchio (Leonardo)
  • 1.60% The Vanguard Group, Inc.
  • 0.95% Norges Bank Investment Management (NBIM)
  • 0.93% BlackRock Institutional Trust Company, N.A.
  • 0.76% BlackRock Advisors (UK) Limited
  • 0.62% Lyxor Asset Management
  • 0.44% Amundi Asset Management
  • 0.37% BlackRock Asset Management Deutschland AG
  • 0.34% JPMorgan Asset Management U.K. Limited
  • 0.30% NNIP Advisors B.V.
  • 0.29% Franklin Mutual Advisers, LLC
  • 0.27% Fideuram Investimenti SGR S.p.A.
  • 0.23% TIAA Global Asset Management
  • 0.21% Rothschild et Cie Gestion

Notable employees

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

References

  1. ^ a b c d e "2013 Annual integrated report" (PDF). Generali.
  2. ^ "Assicurazioni Generali SpA Company Profile". Yahoo! Finance. Archived from the original on 5 March 2007. Retrieved 29 March 2007. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  3. ^ "Company References Template:Wayback." Assicurazioni Generali. Retrieved on 8 July 2010.
  4. ^ Frankfurt Stock Exchange
  5. ^ "Assicurazioni Generali - Global 500 2014 - Fortune". Fortune. 2014. Retrieved 10 September 2014.
  6. ^ "Generali will sell BMA's life insurance operations". Kansas City Business Journal. 2002-04-30. Retrieved 11 January 2015.
  7. ^ Jucca, Lisa; Christian Plumb (2013-06-04). "Generali sells U.S. unit to Scor in $920 million deal". Reuters. Milan/Paris. Retrieved 11 January 2015.
  8. ^ a b c Even-Or, Shmuel (May 1984). ירושלים: בניינים בעיר החדשה. Kardom (in Hebrew): 20–23. {{cite journal}}: Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)
  9. ^ a b בניין ג'נראלי (in Hebrew). All About Jerusalem. 2014. Retrieved 3 April 2014. {{cite web}}: Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)
  10. ^ Bar-Am, Aviva (19 September 2003). "Return to Bevingrad". The Jerusalem Post. Retrieved 3 April 2014. (subscription)
  11. ^ Future Generali India Life Insurance Company website
  12. ^ 2006 Annual report Banca Intesa
  13. ^ 2004 bilancio Banca Nazionale del Lavoro Template:It icon
  14. ^ "Azionisti rilevanti di ASSICURAZIONI GENERALI SPA". Commissione Nazionale per le Società e la Borsa. Retrieved 27 December 2014. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

External links

Wikimedia Commons has media related to Assicurazioni Generali.
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