Assicurazioni Generali

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Generali Group
Società per azioni
Traded as BIT: G
Industry Financial services
Founded 1831; 193 years ago (1831)
Headquarters Trieste, Italy
Area served
 Italy, Europe, Asia, Middle East, Americas
Key people
 Gabriele Galateri di Genola (Chairman and ad interim CEO)
Alberto Minali (CFO)
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
 77,000 (end 2013)[1]
Subsidiaries Genertel, Alleanza Toro, Ina Assitalia, Europ Assistance Group
Website www.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.
Generali's headquarters in Trieste, Italy.
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, 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.[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's into Life Insurance and General insurance (Non-life) both. 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 23 December 2014, Assicurazioni Generali's largest shareholders were:[14]

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. ↑ 1.0 1.1 1.2 1.3 1.4 Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ "Company References." Assicurazioni Generali. Retrieved on 8 July 2010.
  4. ↑ Frankfurt Stock Exchange
  5. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ 8.0 8.1 8.2 Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ 9.0 9.1 Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found. (subscription)
  11. ↑ Future Generali India Life Insurance Company website
  12. ↑ 2006 Annual report Banca Intesa
  13. ↑ 2004 bilancio Banca Nazionale del Lavoro (Italian)
  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

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