Generali has announced that Giulio Terzariol has assumed the role of Direttore Generale – Group Deputy CEO, effective immediately, following the completion of the customary regulatory process. The appointment comes after the board of directors approved a new organisational structure on 12 November 2025.

In his new position, Terzariol will lead Generali’s insurance business and oversee Banca Generali, further strengthening alignment across the Group’s core operations. As part of this transition, the CEO Insurance role, which Terzariol previously held, has been discontinued under the updated organisational framework.

Terzariol joined Generali in January 2024 as CEO Insurance, bringing with him more than two decades of senior leadership experience from Allianz SE. During his tenure at Allianz, he served as Group Chief Financial Officer for six years, alongside roles including Head of Group Planning and Controlling, CFO of Allianz Life USA, and Regional CFO for Allianz Asia Pacific.

He began his insurance career at Generali in 1995 as an international trainee based in Munich, with an assignment in Vienna. Terzariol holds a degree in business administration from Bocconi University in Milan.

Philippe Donnet, Generali Group CEO, said the organisation continues to evolve in line with its strategic ambitions, with the successful execution of the “Lifetime Partner 27: Driving Excellence” plan remaining the Group’s top priority. He noted that Terzariol’s appointment reflects Generali’s ability to develop one of the strongest management teams in the global insurance and asset management sector, adding that the new organisational structure is expected to further strengthen the Group’s position and support delivery of its strategy.

The appointment underscores Generali’s focus on leadership continuity and operational excellence as it advances its long-term growth objectives.