Generali Group

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          29 April 2022 - 17:00

          2022 Annual General Meeting

          With record participation above 70%, the Generali Annual General Meeting approved the 2021 Financial Statements and appointed the new Board of Directors, which resolved on the assignment of corporate offices for the period 2022-2024

          On April 29th, the ordinary and extraordinary Annual General Meeting (AGM) of Assicurazioni Generali was held under the chairmanship of Gabriele Galateri di Genola. As is tradition, the Meeting took place in Trieste, where the Company was founded in 1831. The event was held through live video streaming from the historic Palazzo Berlam, which houses the Generali Historical Archive, next to Palazzo Carciotti, where the Company’s deed of incorporation was signed.

          The record participation in the vote is an important testimony to the Shareholders’ active involvement in the life of the Company, and to the solidity of the bond we have built over the years”, the Chairman of Assicurazioni Generali, Gabriele Galateri di Genola, commented. “These have been years of great satisfaction. I have seen the Company grow, become increasingly solid, sustainable, international, inclusive, and innovative. But above all, I have seen this Company strive in every field to improve not only itself and its activities, but also, and above all, its people and its services to customers, while preserving its extraordinary, I would say unique, know-how. I have seen it commit, every day, to improving the world, keeping people, their needs, and their infinite potential at the center”, he concluded before leaving the floor to the Group CEO and Group CFO.

          Before starting, I would like to sincerely thank Chairman Galateri for the great work he has done over the past eleven years”, said the Group CEO di Generali Philippe Donnet. “We have successfully navigated the challenging operating environment of the past few years, and our expertise from managing these situations ensures that we are well-placed to face future uncertainties”, he said, commenting on the most recent results of the Company.
          Truly strong results, which demonstrate the solidity of our business model even in the current context and which allow us to propose to you an increased dividend of 1.07 Euro per share. Today, we are even stronger than before! I am truly proud of this, and grateful to all of our colleagues and agents for their contribution, which was fundamental”.


          In conclusion to his report on financial statements and asset management, Group CFO Cristiano Borean commented: “In a context still characterized by the persistence of the pandemic, in 2021 Generali confirmed an excellent technical profitability and operating performance, an extremely solid capital thanks to the positive contribution from normalised capital generation and the positive development of financial markets, and growing dividends in line with the target. These results allowed the Group to successfully conclude the ‘Generali 2021’ strategic plan. They represent a solid foundation for the ‘Lifetime Partner 24: Driving Growth’ strategy, focused on sustainable growth, an enhanced earnings profile and the creation of value for all stakeholders.”

          The AGM then approved the 2021 Financial Statements and appointed, after setting the dimension of the Board at 13 members, a new Board of Directors to hold office for three financial years, that is, until approval of the financial statements for the year 2024.
           

          • The list presented by outgoing Board of Directors – the majority list – obtained 55.9% of votes.
          • The list presented by the shareholder VM2006 – the first minority list – obtained 41.73% of votes.
          • The list presented by several UCIs under the aegis of Assogestioni – the second minority list – obtained 1.9% of votes.


          From the majority list, the following have been elected: Andrea Sironi (indicated as independent Chairman), Clemente Rebecchini, Philippe Donnet (indicated as Managing Director), Diva Moriani, Luisa Torchia, Alessia Falsarone, Lorenzo Pellicioli, Clara Furse, Umberto Malesci, Antonella Mei-Pochtler.

          From the first minority list, the following have been elected: Francesco Gaetano Caltagirone, Marina Brogi, Flavio Cattaneo.

          Generali Group CEO Philippe Donnet commented: The Generali management welcomes the outcome of the Shareholders’ Meeting, which has confirmed confidence in our ‘Lifetime Partner 24: Driving Growth’ plan. Together with Generali’s employees we have consolidated our leadership in Europe and become Lifetime Partner to a growing base of customers. We have also boosted innovation and digitisation, increased profits and fully integrated sustainability into our business. Our strategic plan offers a clear vision for the Group in 2024 and it will create value for all stakeholders. I look forward to working with the new Board of Directors bringing additional skills and expertise to the Group to successfully deliver this plan.

          Andrea Sironi, candidate Chairman of Assicurazioni Generali, commented: “It is an honour for me to be elected as candidate Chairman of Assicurazioni Generali, a group with a great history that has always played a role of absolute importance in the economic and financial system of Italy and Europe. I would like to express my personal gratitude, and that of the entire Group, to Gabriele Galateri di Genola, for the balance, professionalism and commitment with which he has guided Generali over the past eleven years. My commitment as Chairman, once appointed by the Board, will be to do everything possible to best represent all of Generali’s stakeholders - my only reference point will be the best for the company and its sustainable future. With today's meeting, a very delicate phase comes to an end. Aware that the result of the meeting reflected - in compliance with the rules governing this procedure - the will of the majority of shareholders, I hope that everyone can now commit themselves towards this common goal, which is the interests of Assicurazioni Generali.

          The Board of Directors of Assicurazioni Generali, which met on May 2, resolved on the assignment of corporate offices for the three-year period 2022-2024, electing:

          • Chair: Andrea Sironi; 
          • Managing Director and Group CEO: Philippe Donnet, with the confirmation of the previous delegations of powers and the role of director in charge of the internal control and risk management system.

          Further information is available in the press releases on the 2022 Annual General Meeting and on the appointment of the corporate bodies for the period 2022-2024.