Generali: insurance sector can boost green and digital development in Europe

Brussels – The insurance sector can play a key role in boosting green and digital investment across the European Union. This is the message that was at the heart of the meeting between Andrea Sironi, Chairman of Generali, and Mairead McGuinness, European Commissioner for financial services, financial stability, and Capital Markets Union. Sironi and McGuinness also exchanged views on the EU’s current economic situation and the impact of increasing energy prices on businesses across the European continent.

As the EU’s economy emerges from two years of Covid-19 restrictions into a turbulent economic scenario, Sironi highlighted the pivotal role the insurance sector can play in closing protection gaps and fostering innovative, sustainable, and resilient business practices. Furthermore, Generali welcomed the upcoming revision of the Solvency II directive as an opportunity to utilise the firepower of some of the EU’s largest investors.

In Brussels, Sironi also met the Italian Ambassador to Belgium, Francesco Genuardi, and the Italian Permanent Representative to the EU, Pietro Benassi, as well as Members of the European Parliament at an event organized together with the Italian Embassy and the Italian Permanent Representation to the EU.

In May 2021, Generali opened a representative office to the EU in Brussels to engage in the activities of the European institutions and strengthen its public affairs activities. The Group aims to best represent its business priorities while playing an increasingly active corporate citizenship role to contribute to a sustainable future.

Andrea Sironi, Chairman of Generali said: “Generali welcomes the Commission and Council’s recognition of the significant role that insurers can play in investing in the real economy. At a time of pressure and great uncertainty for the economy, this will allow support for businesses without giving up on addressing the objectives of the Green Deal. Generali, together with the insurance sector, is keen to offer its contribution to the debate on key strategic issues for the European Union.”