Americas includes Argentina, Brazil, Colombia, Chile, Ecuador, Guatemala and Panama. The gross written premiums amount to € 1.2 billion, with a total operating result of € 107 million.
Figures as at December 31, 2016
Argentina is the main market in this region, where Generali is ranked as the fourth operator.
The Argentinian market is characterized by an historically high inflation rate, and a volatile financial environment, both of which have accentuated after the last political elections in late 2015. However, in the second part of 2016, the economy began to show signs of stabilization and opening towards the international markets despite the recession, which are positive signs for the future of this key Latin American country. Despite the tough scenario for the insurance business, the Group has implemented best practices in its Argentinian subsidiaries, enabling them to stand out in terms of service quality and innovation.
Brazil is the second most important country in this area, although the current economic crisis and political instability are limiting development. Despite systemic turbulence, Brazil boasts of an emerging middle class which represents potential for insurance market development in the coming years. The Group also operates in Chile, Colombia, Ecuador, Guatemala (whose disposal was finalised in early 2017) and Panama.