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Assicurazioni Generali SpA Announces Launch of Generali Italia

Monday, 1 Jul 2013 10:19am EDT 

Assicurazioni Generali SpA announced that Generali Italia has been officially launched on July 1, 2013. The Direzione per l'Italia business unit of Assicurazioni Generali, including the Italian insurance activities and the main Italian shareholdings, such as AlleanzaToro, Fata, Genertel, Genertellife, Banca Generali, Generali Properties and Genagricola, has been transferred to Ina Assitalia. Subsequently, Ina Assitalia assumed the name of Generali Italia SpA. The new company is headquartered in Mogliano Veneto (Treviso). At a meeting chaired by Sergio Balbinot, the Board of Directors of Generali Italia appointed Alberto Minali as Vice Chairman and Raffaele Agrusti as Chief Executive Officer. Antonio Cangeri, Giovanni Liverani, Monica Alessandra Possa and Paolo Vagnone will serve as Directors. The Board will remain in office until the approval of the 2013 financial statements. Following this step, the merger will continue with the insurance activities of Toro, Lloyd Italico and Augusta being transferred to the new company by the end of fiscal year 2013. By the completion of the process, Generali Italia will have operations consisting of more than EUR 13 billion in premiums and EUR 100 billion in assets under management and will serve 10 million clients through around 9,000 employees and a sales network of approximately 3,000 agents and thousands of producers.