Ownership structure

This section contains our shareholding structure, with a strong participation of institutional and private investors.

Share ownership

Updated as at 25 September 2026 in line with the Shareholder’s Register, mainly on the basis of the dividend pay-out dated 20 May 2026, with the integration of information pursuant to article 120 of consolidated law on financial intermediation and other available information. In case changes become available for individual shareholders or group, the ownings of the other categories are adjusted proportionally.

(1) Main Shareholders

13.35% Monte dei Paschi di Siena Group (through Mediobanca S.p.A.)

10.15% Del Vecchio Group

9.05% Unicredit Group 

6.32% Caltagirone Group

4.91% Benetton Group

3.13% Intesa Sanpaolo Group

(2) The category includes asset managers, sovereign funds, pension funds, life insurance companies
(3) The category includes retail investors (Italian and foreign individuals), Italian companies linked to retail shareholders and other corporate entities such as foundations, religious and charitable institutes, trust companies and others
(4) Data not yet transmitted by mainly foreign intermediaries



  December 31 2021 December 31 2022 December 31 2023 December 31 2024 December 31 2025 Current
Main shareholders (>3%) 31.41% 33.81% 33.95% 34.74% 41.06% 46.91%
Mediobanca 12.84% 12.77% 13.13% 13.10% 13.19%*** 13.35%
Del Vecchio Group 6.62% 9.82% 9.77% 9.93% 10.05% 10.15%
Unicredit Group - - - - 6.68% 9.05%
Caltagirone Group 7.98% 6.46%* 6.23%** 6.92% 6.28% 6.32%
Benetton Group 3.97% 4.78% 4.83% 4.80% 4.86% 4.91%
Intesa Sanpaolo Group - - - - - 3.13%
Institutional investors 36.24% 31.29% 34.86% 34.94% 30.48% 29.79%
Private Investors 30.96% 30.59% 29.01% 26.71% 24.41% 20.97%
Own Shares 0.39% 2.47% 1.10% 3.06% 3.01% 1.94%
Not identifiable shareholders 1.01% 1.84% 1.08% 0.55% 1.04% 0.39%

*Source Consob www.consob.it. As at the dividend payment of May 25th 2022 Caltagirone Group held 9.38% of s.c. On July 12th 2022 Fincal SpA, company of Caltagirone Group, disclosed the reduction of its holding from 3.99% to 2.99% s.c.
**Including 0.06% s.c. held by an associated company.
*** Of which 0.243% under three share lending agreements disclosed by Mediobanca S.p.A. as lender
Data not shown for Unicredit and Intesa Sanpaolo have not been disclosed to the issuer under art. 120 CLFI.

 

Geographic breakdown

Data as at the dividend pay-out dated 20 May 2026

Geographic breakdown
Geographic breakdown

Non-identifiable shareholders and non-received declarations: 0.41% 

All data provided are in percentage of share capital.



  December 31 2021 December 31 2022 December 31 2023 December 31 2024 December 31 2025 Current
Italy 64.51% 69.37% 65.99% 66.01% 69.93% 71.90%
International 34.48% 28.78% 32.93% 33.44% 29.01% 27.69%
United States 7.97% 6.99% 10.40% 9.86% 7.33% 8.74%
Great Britain 2.43% 1.04% 2.45% 1.92% 1.30% 1.25%
France 8.30% 6.44% 4.23% 5.10% 4.83% 3.79%
Germany 3.14% 4.33% 3.56% 4.52% 3.58% 3.30%
China 0.40% 0.41% 0.46% 0.49% 0.39% 0.45%
Rest of Europe 9.56% 7.84% 9.11% 9.27% 8.84% 7.59%
Other International 2.68% 1.73% 2.71% 2.28% 2.74% 2.58%
Not identifiable shareholders and communications not received 1.01% 1.84% 1.08% 0.55% 1.06% 0.41%

 

 

Breakdown by number of shares held

Data as at the  dividend pay-out dated 20 May 2026

Shareholdings
(From - to)		 Number of shareholders  % of the share capital
1 - 10,000 147,390 8.71%
10,000 - 100,000 6,108 10.39%
100,000 - 200,000 418 3.83%
200,000 - 500,000 292 5.93%
500,000 - 1,000,000 110 4.93%
1,000,000 - 5,000,000 114 14.66%
5,000,000 - 10,000,000 8 3.50%
10,000,000 - 50,000,000 7 10.18%
>50,000,000 4 37.46%
Total identifiable shareholders 154,451 99.59%
Not identifiable shareholders - 0.41%
Total 154,451 100.00%


Assicurazioni Generali's Articles of Association do not allow for any exceptions to the provisions concerning the passivity rule pursuant to Article 104, paragraphs 1 and 1-bis of the CLFI, nor do they envisage application of the neutralisation rules laid down in Article 104-bis, paragraphs 2 and 3 of the CLFI.

Shareholder agreements

Please find below information about the shareholder agreement stipulated on September 10th 2021 by some companies of Caltagirone Group and Delfin S.à R.L. (Del Vecchio Group) and to which Fondazione CRT has become a party on September 17th 2021. On January 27th the companies of Caltagirone Group exercised the right to withdraw from the agreement.
On March 30th 2022 Delfin S.à R.L. (Del Vecchio Group) and Fondazione CRT have disclosed the termination of the agreement effective from March 27th 2022.