The transformation, approved by the Board of Directors chaired by Andrea Sironi and proposed by Group CEO Philippe Donnet, aims to accelerate growth and address key priorities in its primary business areas: Insurance and Asset Management.
Under the new structure, the Insurance Division will be led by CEO Giulio Terzariol, who will oversee business performance across all geographies. The division will consist of five business units: Italy, France & Global Business Activities, Germany, Austria, Switzerland, and three regions: Mediterranean & Latin America, Central Eastern Europe, and Asia. Jaime Anchústegui, current CEO International, will serve as Deputy CEO Insurance, reporting to Terzariol, and will manage strategic partnerships and global insurance projects.
Generali Investments Holding (GIH) will replace the current Asset and Wealth Management Business unit, overseeing all global asset management activities within the Group, except certain operations in China. Woody Bradford will lead GIH as CEO while also serving as CEO and Chair of Conning Holdings Limited. Group CEO Philippe Donnet will take on the role of GIH Chair.
David Cis, Group Chief Operating Officer, will join the Group Management Committee, working alongside General Manager Marco Sesana. Cis will focus on achieving best-in-class service levels and operational efficiency through digitization, AI, process automation, and shared technology platforms.
The new structure aims to enhance coordination and strategic alignment across Generali’s main business areas, ensuring the group remains at the forefront of the insurance and asset management sectors.
Donnet said: “Generali Group has successfully evolved into an integrated insurance and asset management player at the global level, with a solid capital position and a strong focus on innovation and sustainability. In Asset Management, the recent acquisition of Conning and long-term partnership with Cathay Life resulting from this agreement allows us to broaden our investment offering, expand our international client base, focus on growing third-party business, and invest in distribution capabilities targeting important markets as one of Europe’s top-ten largest asset managers.
He continued: “The Insurance Division will continue to strengthen the Group’s presence in our key markets, leveraging on the technical excellence of our business, implementing new technologies and adapting our offering to meet our customer’s needs in a constantly changing environment.”
Donnet added: “Thanks to a simpler and leaner approach, the new Group’s organizational structure centering on insurance and asset management will accelerate the Group’s transformation, and it will support the definition of the plan for the next strategic cycle.”
