Assicurazioni Generali

Assicurazioni Generali S.p.A. or simply Generali is an Italian insurance company, the largest 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.

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 Austrian Empire. The company grew in importance, becoming one of the largest insurance operators both in Italy and in Central Europe. As of 2017, the company ranks 57th on the Fortune Global 500 list of companies and 43rd on MITs worldwide "Smartest Companies" ranking in 2015.[4]

Assicurazioni Generali S.p.A.
Traded asBITG
FTSE MIB Component
IndustryFinancial services
Area served
Italy, Europe, Asia, Middle East, Americas
Key people
Gabriele Galateri di Genola (Chairman)
Philippe Donnet (CEO)
ProductsInsurance, banking, investment management
RevenueDecrease € 68.5 billion[1] (2017)
Increase € 2.1 billion[1] (2017)
Total assetsIncrease € 542 billion[1] (2017)
Total equityIncrease € 25 billion[1] (2017)
Number of employees
71,327[1] (2017)
SubsidiariesGenertel, Alleanza Toro, Ina Assitalia, Europ Assistance Group


Flag of Most Serene Republic of Venice
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.
Targa Assicurazioni Generali Venezia
Original metal plaque with raised gilt signature and Lion of Saint Mark, 1924–1940.
Assicurazioni Generali 1919
Insurance policy of the Assicurazioni Generali, issued 1919[5]
Headquarters in Trieste
20140826 - press conference - FIVB Volleyball Men's World Championship - France men's national volleyball team 01
France men's national volleyball team in World Championship 2014

Today Generali operates primarily in Europe, Middle East and East Asia, with large market shares in Italy, Poland,[6] Hungary, Germany (under the name of Generali Deutschland), France, Austria, Slovenia,[7] The Netherlands, Croatia, Serbia (Generali Osiguranje), 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 and travel insurance products as part of the Europ Assistance Group.[8] In 2002, Generali sold BMA's life insurance arm to the Royal Bank of Canada.[9] In 2013, Generali sold its US reinsurance arm to Scor.[10]

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.[11] The Generali Building is still owned by the Italian insurance firm through its local representative, the Migdal Insurance Company.[12] 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.[11] 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[11][13] which appears on all of its branches worldwide since 1848.[12]

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.[14]

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[15]) and Banca Nazionale del Lavoro (8.71980% in 2004[16]) 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:[17]

Notable employees

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

Generali is the sponsor of France National Volleyball Team. Generali sponsor of the French Federation of Volleyball for 19 years, launched the Responsible Sports Charter in 2010, coherently with the Group guidelines, to actively promote the culture of sustainability in the sporting arena.


After nearly 10 years of struggling to get a big Italian insurance company to pay claims on life insurance policies sold to victims of the Holocaust, the lawyers for most of the victims are giving up the fight. Sidney Zabludoff, a Holocaust insurance expert, estimates that Generali had coverage on about 110,000 Jews at the time, and he estimates this be worth $4.5 billion today. In court papers, Generali says it has paid $135 million on about 5,200 claims.[18]

In popular media

Blood Money - Law & Order Episode is based on Generali subsidiaries selling life insurance to poor Jews in WW2 Europe and then not paying out in case of death. The motive in the murder of a retired insurance salesman appears to be a series of policies he sold to Jews in Poland during the Holocaust.[19]


  1. ^ a b c d e "Annual Integrated Report and Consolidated Financial Statements 2017" (PDF). Retrieved 15 March 2018.
  2. ^ "Assicurazioni Generali SpA Company Profile". Yahoo! Finance. Archived from the original on 5 March 2007. Retrieved 29 March 2007.
  3. ^ "Company References Archived July 16, 2010, at the Wayback Machine." Assicurazioni Generali. Retrieved on 8 July 2010.
  4. ^ "Assicurazioni Generali | Global 500". Fortune. Retrieved 27 July 2017.
  5. ^ Alex Witula: Le Più Belle Azioni D'Epoca, p. 41; ISBN 978-88-95848-10-5
  6. ^ "GENERALI extends its presence in Poland by acquiring the CONCORDIA companies; premium income from Austria, CEE and Russia Region to exceed EUR 6.4 billion – Insurance". Retrieved 22 June 2018.
  7. ^ "Italian insurer Generali buys Adriatic Slovenica for EUR 245m". Retrieved 22 June 2018.
  8. ^ url=
  9. ^ "Generali will sell BMA's life insurance operations". Kansas City Business Journal. 2002-04-30. Retrieved 11 January 2015.
  10. ^ 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.
  11. ^ a b c Even-Or, Shmuel (May 1984). ירושלים: בניינים בעיר החדשה [Jerusalem: Buildings in the New City]. Kardom (in Hebrew): 20–23.
  12. ^ a b בניין ג'נראלי [Generali Building] (in Hebrew). All About Jerusalem. 2014. Retrieved 3 April 2014.
  13. ^ Bar-Am, Aviva (19 September 2003). "Return to Bevingrad". The Jerusalem Post. Archived from the original on 11 June 2014. Retrieved 3 April 2014. (subscription)
  14. ^ Future Generali India Life Insurance Company website
  15. ^ 2006 Annual report Banca Intesa
  16. ^ 2004 bilancio Banca Nazionale del Lavoro ‹See Tfd›(in Italian)
  17. ^ "Azionisti rilevanti di ASSICURAZIONI GENERALI SPA". Commissione Nazionale per le Società e la Borsa. Archived from the original on 7 August 2016. Retrieved 27 December 2014.
  18. ^ "Holocaust victims settle with Generali - Business - International Herald Tribune". The New York Times. Retrieved 27 November 2017.
  19. ^ ""Law & Order" Blood Money (TV Episode 1999)". IMDb. Retrieved 27 November 2017.

External links

Alleanza Assicurazioni

Alleanza Assicurazioni is an Italian insurance company based in Milan. It was founded in Genoa in 1898 and refound in Milan in 2013. The company is particularly active in the life insurance sector.

Alleanza was controlled with a stake of around 50.4% by Assicurazioni Generali between 1933 and June 2009, when Generali announced plans to acquire the remainder of its shares. In the same year the business of Alleanza was injected into a new company Alleanza Toro. After the deal, Alleanza Assicurazioni along with Toro Assicurazioni were absorbed by the parent company. The merger was completed on 1 October.

Banca Mediolanum

Banca Mediolanum S.p.A. is an Italian bank, insurance and asset management conglomerate which is the parent company of Gruppo Mediolanum (Mediolanum Group).

The bank is listed on the Borsa Italiana and is a constituent of the FTSE MIB index from the end of 2015 when it incorporated it parent company Mediolanum S.p.A..

Mediolanum Group was founded by Ennio Doris, the current second largest shareholders of the conglomerate. The conglomerate provided asset management, banking, insurances services to customers in Italy, Spain (as Banco Mediolanum and Fibanc) and Monaco (Bankhaus August Lenz & Co.)

Despite being ranked sixth by market capitalization among financial services companies (behind Intesa Sanpaolo, UniCredit, Assicurazioni Generali, UnipolSai and Mediobanca in 2016), the conglomerate (Mediolanum S.p.A.) was ranked 13th by total assets among bank (2014 data), as well as much smaller in size by risk-weighed assets, thus the conglomerate (Mediolanum S.p.A nor Banca Mediolanum) was not included in the Single Supervisory Mechanism. However, after Banca Mediolanum reversed the merger with Mediolanum, the European Central Bank started a comprehensive assessment to assess the conglomerate and decided the conglomerate would not be included. Eventually, Banca Mediolanum remained as a less-significant bank, which would not be supervised by the European Central Bank directly.The current CEO of the company was Massimo Antonio Doris.

Banking in Italy

Banking in Italy has, as of 11 October 2008, an average leverage ratio (liabilities/assets) of 12 to 1, while the banks's short-term liabilities are equal to 86% of the Italian GDP or 43% of the Italian national debt.The origins of modern banking can be traced to medieval and early Italian Renaissance, to the rich cities in the north like Florence, Lucca, Siena, Venice and Genoa. The Bardi and Peruzzi families dominated banking in 14th-century Florence, establishing branches in many other parts of Europe. One of the most famous Italian banks was the Medici Bank, set up by Giovanni di Bicci de' Medici in 1397. The earliest known state deposit bank, Banco di San Giorgio (Bank of St. George), was founded in 1407 at Genoa, Italy, while Banca Monte dei Paschi di Siena, founded in 1472, is the oldest surviving bank in the world.

Unicredit is one of the largest bank in Europe by capitalization and Assicurazioni Generali is the seventh in the world by total assets

Bucharest Corporate Center

Bucharest Corporate Center also known as the Generali Tower is a class A office building in Bucharest. It has 15 floors and a surface of 18,000 m2. The building is owned by the real estate branch of insurance giants Assicurazioni Generali.

Caffè San Marco

Caffè San Marco is a historic café in Trieste, Italy. It is located in via Battisti 18. Founded in 1914, it became famous as a rendezvous for intellectuals and writers including Italo Svevo, James Joyce and Umberto Saba, a tradition that continues to date with Claudio Magris. A meeting point for Trieste's irredentists, the café was destroyed by Austro-Hungarian troops during the first World War but was reopened when hostilities ended.

The interiors reflect the Vienna Secession style popular when the café was founded. Part of the frescos are attributed to Vito Timmel.

The café is owned by Italy's largest insurance company (also based in Trieste), Assicurazioni Generali.

Italians campaigned to save the historic cafe in 2013 and it has now been restored, incorporating a bookshop.

De Agostini

De Agostini S.p.A. is an Italian holding company that coordinates the strategic operating companies - De Agostini Editore, De Agostini Communications, IGT and DeA Capital - and makes financial investments, among which the main investment is a minority stake in Assicurazioni Generali. It was founded in 1901 by the geographer Giovanni De Agostini in Rome, Italy, and later moved to Novara, Italy.

Generali Building

The Generali Building (Hebrew: בניין ג'נרלי‎, Binyan Generali) is a landmark office and commercial building on Jaffa Road in western Jerusalem, Israel. Designed by Marcello Piacentini, chief architect of the Italian Fascist regime, it served as the Jerusalem branch of the Assicurazioni Generali insurance company from 1935 to 1946. In 1946 the British Mandatory government nationalized the building and enclosed it and several other structures at the eastern end of Jaffa Road in a fortified security zone. With the end of the Mandatory government in 1948, the building was recovered by the Irgun. Since the establishment of the state, the Generali Building has housed the offices of the Jerusalem District Administration and other government agencies, and street-level stores. The building's neoclassical and modern architecture, and large, rooftop sculpture of a winged lion have made it a prominent landmark in downtown Jerusalem.

Generali Deutschland

Generali Deutschland AG (until 2008: AMB Generali) is a German holding company consisting of about 20 insurance companies. It is the second largest direkt insurance company in Germany after Allianz. Its headquarters is in Munich. Companies Generali Deutschland owns include Generali Versicherungen, AachenMünchener, CosmosDirekt and other. The company is fully owned by the Italian group Assicurazioni Generali.

Since 2015, Giovanni Liverani has been CEO of the Generali Deutschland. In May 2015, he declares his new strategy which includes a renaming into Generali Deutschland (former: Generali Deutschland Holding) and a relocation from former Cologne to Munich.

Generali Osiguranje

Generali Osiguranje (Serbian Cyrillic: Генерали Осигурање) or Generali Osiguranje Srbija, is a Serbian insurance company based in Belgrade, Serbia. It is the second largest insurance company in the Serbian insurance market, offering all types of insurance. It is owned by the Italian insurance company Assicurazioni Generali through its subsidiary Generali CEE Holding B.V. from the Netherlands.

Istituto per il Credito Sportivo

Istituto per il Credito Sportivo is an Italian public bank which was under special administration by Banca d'Italia since 2011.

According to new articles of association passed in 2014 (that superseded 2005 version), the bank was majority owned by Italian Ministry of Economy and Finances (80.438%), Cassa Depositi e Prestiti (2.214%) and Coni Servizi (a company owned by Ministry of Economy and Finances but associated with CONI) (6.702%) as well as other private banks: UniCredit, Banca Monte dei Paschi di Siena, Intesa Sanpaolo, Banca Nazionale del Lavoro, Assicurazioni Generali, Banco di Sardegna and Crediop. the new articles of association recalculated the ownership ratio, making private sectors had owned just 11% capital of the bank. The articles of association was also modified in 1993.

Migdal (company)

Migdal Insurance and Financial Holdings Ltd. (Hebrew: מגדל‎) (TASE: MGDL) is an Israeli insurance company.

Palazzo delle Assicurazioni Generali, Florence

The Palazzo delle Assicurazioni Generali is a building in the Piazza della Signoria in Florence, Italy. Originally the Palazzo Fenzi, built for the Fenzi banking family and designed in the Neo-Renaissance style by Giuseppe Martelli and is one of the very few purpose built commercial buildings in the centre of the city though it housed on the upper floors reception rooms for the Fenzi family.

The site was formerly occupied by the "Pisan Loggia" and the "Chiese de Santa Cecilia" While the architecture of the palazzo is undoubtedly inspired by that of the Palazzo Medici Riccardi, also in Florence, the Palazzo delle Assicurazioni Generali was never intended to be a private house but the local headquarters of the General Insurance Company which was founded in Trieste in 1831. There are other Palazzi delle Assicurazioni Generali in other Italian cities most notably Rome and Milan. During the latter half of the 19th century the Assicurazioni Generali (commonly known as "Generali") were expanding not only in Italy but also throughout Europe.

The Assicurazioni Generali generally employed retrospective architectural style to reflect the surroundings of their offices in Rome the palazzo imitates the Palazzo Venezia which it faces, while in Milan the Palazzo delle Assicurazioni Generali is in a form of 19th century Baroque Palazzo delle Assicurazioni Generali, Milano known as Beaux Arts.

The Florence Palazzo delle Assicurazioni unsuccessfully vies for dominance in the piazza with the more historical and architecturally important Palazzo Signoria, today known as the Palazzo Vecchio. In spite of its height and size the architecture of the Palazzo delle Assicurazioni Generali harmonises with that of the surrounding buildings, and does not appear as a new imposter in the piazza. However, this is not a view shared by all, one source describes those buildings of Piazza della Signoria occupied by banks and Insurance companies as "seeming to belong to some cold northern climate rather than to the city that gave birth to the colour and vitality of the Renaissance" Part of the ground floor is home to one of Florence's more fashionable and historical cafés – "Rivoire", founded in 1872.

Petr Kellner

Petr Kellner (born 20 May 1964) is a Czech businessman. In 2018, Petr Kellner ranked #88 on the Forbes World's Billionaires list, with wealth listed at US $15.5 billion.

Piazza Cordusio

Piazza Cordusio (also informally referred to as Piazzale Cordusio) is a square in central Milan, Italy. The piazza takes its name from the Cors Ducis (Ducal court) which was found in the square during Longobard times. It is well known for its several turn-of-the-19th-century Neoclassical, eclectic and Art Nouveau buildings, banks and post offices. Even though many of these have now relocated elsewhere, it is still an important commercial square in the city and hosts the Palazzo delle Assicurazioni Generali (Palace of the Assicurazioni Generali), the Palazzo del Credito Italiano (Palace of the Credito Italiano) and the Palazzo delle Poste (Palace of the Post Office), former Borsa di Milano (former Milan Stock Exchange). Piazzale Cordusio hosts the Cordusio metro station and is the starting point of the elegant pedestrian Via Dante which leads to the imposing medieval Castello Sforzesco, or Milan Castle. Opposite to Via Dante, Cordusio borders onto Piazza Mercanti, former city centre in the Middle Ages, which leads directly to Piazza del Duomo, today's city centre.

Piazza della Signoria

Piazza della Signoria (Italian pronunciation: [ˈpjattsa della siɲɲoˈriːa]) is an L-shaped square in front of the Palazzo Vecchio in Florence, Italy. It was named after the Palazzo della Signoria, also called Palazzo Vecchio. It is the main point of the origin and history of the Florentine Republic and still maintains its reputation as the political focus of the city. It is the meeting place of Florentines as well as the numerous tourists, located near Palazzo Vecchio and Piazza del Duomo and gateway to Uffizi Gallery.

Richard Woolnough

Richard Woolnough (born 1964) is a fund manager with Prudential plc in the United Kingdom who in 2014 was the highest paid person in the company, earning at least £15.3 million in pay and bonuses, compared to the £11.8 million earned by the chief executive Tidjane Thiam that year. Woolnough was paid £17.5 in 2013.Woolnough was born in Chesterfield and educated at the London School of Economics. Before starting at M&G, Woolnough worked for Lloyds Merchant Bank, the Italian insurer Assicurazioni Generali, Old Mutual and SG Warburg.Woolnough runs three funds at M&G Investments, the fund management arm of Prudential plc, which manages £35 billion on behalf of Prudential policyholders and investors.

Swiss Life

The Swiss Life Group is the largest life insurance company of Switzerland and one of Europe’s leading comprehensive life and pensions and financial solutions providers, with approximately CHF 232.6 bn of assets under management. Founded in 1867 in Zurich as the Schweizerische Lebensversicherungs und Rentenanstalt cooperative, the company entered the Swiss stock market in 1997 and adopted its current name in 2002. In 2018 the group declared a premium income of CHF 19.2 bn, a 4% increase over the previous year. Net profit increased by 7% to CHF 1080 million. Swiss Life is one of the twenty companies listed under the Swiss Market Index, as SLHN.

Tour Generali

Tour Generali (English: Generali Tower) was a skyscraper planned for construction in the business quarter of La Défense in Courbevoie (Hauts-de-Seine, France). (Note that Generali also owns another prominent high-rise building on Avenue Louise in Brussels, which is also known locally as the "Tour Generali".)

The project was officially initiated on 18 October 2006 and is being built for Italian insurance company Assicurazioni Generali. Part of the modernisation of La Défense, the project is being constructed by Vinci on the old site of the Iris building, which was completed in 1983. Tour Generali will have an estimated height of 319 meters (1100 feet) from ground level, at a total cost estimate of 500 million euros.

The building would have had 400m² of PV cells, 800m² of solar panels and 18 axial wind turbines on site to produce energy. Other environmental initiatives being taken in the project include mixed-mode ventilation with night purging, use of thermal mass, district heating/cooling and multi-service chilled beams (e.g. ventilation, cooling heating and lighting).

This building was to be constructed as a "green" building, and would have include a wind turbines in its spire, solar panels, and other environmentally friendly elements.

The main entrance of the tower would have been at the 6th level of the tower along the elevated esplanade/promenade, which rises 18 metres above ground level.

The Tour Generali had undergone a redesign and was shortened to 265m, which meant it would have longer held the title of the tallest building in the European Union. The project was cancelled in 2011.

Vitalicio Seguros

Vitalicio Seguros (UCI team code: VIT) was a Spanish professional road bicycle racing cycling team active between 1998 and 2000. It helped launch the careers of triple world champion Óscar Freire, 2001 Vuelta a España winner Ángel Casero and Tour de France yellow jersey wearer Igor González de Galdeano.

The team was started by manager in 1998 with funding from Assicurazioni Generali, who wished to promote their Catalan brand and made a three-year commitment.

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