Assicurazioni Generali facts for kids
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Assicurazioni Generali headquarters in Trieste
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| Public | |
| Traded as | BIT: G FTSE MIB Component |
| Industry | Financial services |
| Founded | 1831 |
| Headquarters | Trieste,
Italy
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Area served
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Worldwide |
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Key people
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Andrea Sironi (chairman) Philippe Donnet (CEO) |
| Products |
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| Revenue |  €95.190 billion (2023) |
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Operating income
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€7,295 million (2024) |
| €3,724 million (2024) |
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| AUM | €863 billion (2024) |
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Number of employees
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87,000 (2024) |
Assicurazioni Generali S.p.A. is an Italian company. It is often called Generali Group. This company is based in Trieste, Italy. Generali is the largest insurance company in Italy. It is also one of the biggest insurance companies in the world. They are known for their large amount of money from premiums and assets.
Generali competes with other big insurance companies. These include AXA, Allianz, and Zurich Insurance Group. Generali's shares are traded on the Borsa Italiana stock exchange. It is part of the FTSE MIB index.
Contents
Generali's Story
Generali started on December 26, 1831. Its first name was Imperial Regia Privilegiata Compagnia di Assicurazioni Generali Austro-Italiche. This means 'Imperial and Royal Privileged Company for General Austrian-Italian Insurances'. It was founded in Trieste. Giuseppe Lazzaro Morpurgo helped start it.
The word "Generali" means "general". It showed that the company offered many types of insurance. This included fire, life, and transport insurance. At that time, most companies in Trieste only focused on sea transport.
The name "Austrian-Italian" meant the company had two main offices. One was in Trieste, which was an important port for the Austrian Empire. The other office was in Venice. It managed business in Italy.
Generali started with a lot of money from different investors. These investors came from Trieste and Venice. They included important people like Giovanni Cristoforo Ritter de Záhony.
The company chose the Habsburg eagle as its symbol. This eagle was a sign of Trieste's connection to Austria. Generali quickly grew in many markets. This was because Trieste and Venice were important trading cities. In its first ten years, Generali opened offices across Italy and Europe.
In 1848, the name "Austrian-Italian" was removed. The company became simply Assicurazioni Generali. This happened after the Risorgimento uprisings. By 1856, Generali was the biggest insurance company in the Austrian Empire. It was listed on the Trieste Stock Exchange in 1857.
After Italy became one country, Generali's Venice office helped it grow. It became the largest insurance company in the new kingdom.
In 1869, Generali saw how important the Suez Canal would be for trade. Key people from Generali were involved in the canal's opening. The canal's opening helped Generali grow even more. It expanded into the Mediterranean, North Africa, and the Americas.
Marco Besso led the company from 1877 to 1920. Under him, Generali became a global company. It opened offices in many cities worldwide. It also started new companies like Erste Allgemeine Schaden und Unfallversicherung in Vienna.
During this time, Generali built impressive offices in Italian cities. These included Florence, Trieste, and Rome. During World War I, Generali's offices in Venice and Trieste kept working. They stayed neutral and focused on their business.
Generali in Italy
In 1920, Edgardo Morpurgo became president. Generali continued to grow worldwide. By 1924, it had offices in thirty countries. By 1935, it had twenty-nine smaller companies in Europe. It also had companies in the Americas, Africa, and Asia. During this time, Marcello Dudovich helped create Generali's image. The company also bought Alleanza Assicurazioni.
However, the 1930s brought challenges. Laws against certain groups of people were introduced. Generali had many Jewish shareholders and managers. In 1938, the president, a Morpurgo, was asked to resign. Giuseppe Volpi di Misurata took over.
Generali faced big problems during World War II. Its offices were taken over by different groups. After the war, Generali's branches in Eastern countries were taken by governments.
In 1963, Generali's French branch, Concorde, started Europ Assistance. This new company offered help to people far from home. In 1974, Generali started Genagricola for its farming business.
From 1968 to 1979, Cesare Merzagora was president. He made the company more efficient.
In 1988, Generali bought a part of Compagnie du Midi in France. In 1996, Generali sold these shares. This money helped them buy INA Assitalia.
In 1994, Generali launched Genertel. This was the first company in Italy to offer financial services by phone. In 1998, Banca Generali was created as an online bank. It later became a bank for wealthy clients.
Recent Times
After buying INA Assitalia in 2000, Generali bought Toro Assicurazioni in 2006. In 2011, Generali started Generali Real Estate. This company manages its real estate properties. Generali Real Estate became the owner of CityLife. This is a new complex in Milan. The Generali Tower is part of CityLife. It was designed by Zaha Hadid. It has been Generali's main office in Milan since 2019.
In 2013, Generali changed its structure. Its Italian branch joined INA Assitalia. This created Generali Italia. This new company included Toro Assicurazioni and other companies. Philippe Donnet became its leader. Donnet became the CEO of the Generali Group in March 2016.
In 2022, Donnet was reappointed for a third term. Andrea Sironi was elected president of the Group.
In June 2023, Generali bought Liberty Seguros. This company operates in Spain and Portugal. This made Generali a top insurance company in those countries. It also entered the top ten in Ireland and Northern Ireland.
On July 6, 2023, Generali bought Conning. It also partnered with Cathay Life. This increased Generali's total assets under management to 775 billion euros. This made Generali the ninth largest company in Europe for managing assets.
On January 21, 2025, Generali and BPCE announced a plan. They want to combine their asset management businesses. This deal would create one of Europe's largest asset management firms. It would manage about 1.9 trillion euros.
How Generali Works
Generali works in 50 countries. It has over 400 companies. The company is organized into five main business units:
- Italy
- Germany, Austria and Switzerland
- France & Global Business Activities
- International
- Asset & Wealth Management
Generali's business focuses on three main areas:
- Life insurance
- Property & Casualty insurance (like car or home insurance)
- Asset Management (managing money for others)
Bank Ownership
Banca Generali is a company owned by Assicurazioni Generali. Generali owns 50.17% of it.
Who Owns Generali
As of April 28, 2025, Generali's main shareholders are:
- 31.63% Institutional investors (large organizations)
- 13.20% Mediobanca S.p.A.
- 10.05% Del Vecchio Group
- 6.90% Caltagirone SpA
- 6.59% UniCredit
- 4.86% Benetton Group
Most of Generali (66.01%) is owned by Italian investors.
Famous Employees
- The famous writer Franz Kafka worked for Generali. He worked at their office in Prague for about nine months. This was between 1907 and 1908.
The Human Safety Net
The Human Safety Net is a special foundation. Generali started it in 2017. Its goal is to help people and communities in need. The foundation helps people who are in difficult situations. It gives them chances to grow and improve.
The Human Safety Net works with about 60 groups. These include non-governmental organizations (NGOs). They help families and refugees. The foundation is based at the Procuratie Vecchie in Venice. This is a historic Generali building.
Generali's Sponsorships
Generali supports sports and good causes. They have many projects that promote sports. In 2010, Generali started the Responsible Sports Charter. This encourages being sustainable in sports. Generali also sponsors two football stadiums. These are the Stadion Letná in Prague and the Franz Horr Stadium in Vienna.
For over forty years, Generali has sponsored Barcolana. This is a famous international sailing race. It happens every year in Trieste.
Generali also sponsors two marathons. These are the Generali Berlin Half Marathon in Berlin and the Generali München Marathon in Munich.
Generali also supports culture. In France, since 1995, they have helped promote Italian art and culture. They helped restore a painting by Giambattista Tiepolo. This painting shows King Henry III arriving in Venice. It is shown at the Jacquemart-André Museum.
See also
In Spanish: Assicurazioni Generali para niños
- Palazzo delle Assicurazioni Generali (Milan)
- Generali Building
- Generali Italia
