(Finance) – I Boards of Directors Of General InsuranceAlleanza Assicurazioni, Genertel and Genertellifemeeting on 28 November 2023, approved a new phase of the reorganization of Country Italy of Generali, in order to better respond to the changed macroeconomic context.
The reorganization, which is expected to have effective July 1, 2024 subject to obtaining the necessary supervisory authorizations – explains a note – it has the objective of enhance the specialization of the different distribution channelsto create dedicated and non-overlapping centers of competence within the Country, to enhance the range of products and services offered to the different customer segments, creating a benefit for insureds.
In particular, through a spartial cleavage of Genertellifeit is expected that: Genertellife will be dedicated to the management of relationships connected to the distribution agreement in place with Banca Generali and relating to the BG Vita division; Genertel will consolidate its digital skills by focusing the business on the development of the direct channel, in the life and non-life sectors, both in Italy and in Europe; alliance will further develop its business, implementing the channel dedicated to bancassurance activity, to complement that of its distribution network; Generali Italy confirms its focus on the network of agencies present throughout Italy and the management of bancassurance portfolios in run-off.
The project, which will also determine a strengthening capital solidity at Country Italy and Group level, will preserve the autonomy of the distribution networksin line with the target operating and business model of Country Italy, and will benefit Genertellife customers thanks to a greater focus of the product factory serving the distribution network, keeping the conditions relating to the current contracts in place unchanged.
The Generali Board of Directors also approved the appointment of Stefano Marsaglia, director non-executive and independent, in the Investment Committee with immediate effect.
The nomination takes place in line with the recommendation of the Appointments Committee e Corporate Governance and follows the decision of Flavio Cattaneo, a non-executive and independent director, to resign from this committee due to new professional commitments.