Generali to Create Fund of up to 100 million Euro for the Covid - 19 Emergency
13 March 2020 - 07:45
- The Board of Directors approved the Creation of an Extraordinary International Fund
- Up to 30 million Euro will immediately be utilized for the Health Emergency in Italy
- The fund will also help restart the economic recovery
Turin – At a meeting chaired by Gabriele Galateri di Genola, the Assicurazioni Generali Board of Directors approved the creation of an Extraordinary International Fund of up to 100 million Euro dedicated to the fight against the Covid-19 emergency on an international level. The fund, which will primarily assist Italy but will also be available in other countries where Generali operates, will offer immediate assistance in this quickly evolving crisis and, in the medium term, aims to support economic recovery efforts in the countries affected. Generali employees will be able to donate to the fund.
Assicurazioni Generali Chairman Gabriele Galateri di Genola and Generali Group CEO Philippe Donnet commented: “With this extraordinary fund, we commit a concrete pool of resources immediately to respond the Covid-19 emergency. Generali wants to be a leader in the international community to face what is both a health crisis but also an economic crisis. We all have to work together to fight this battle. We are a part of both Italian and European history, and in line with our heritage, we have and we will do everything we can to benefit the well-being of all.”
As part of the plan:
- A first tranche of up to 30 million Euro will be available to help with the extraordinary emergencies in Italy. The investment priorities will be decided together with the Italian National Health System and the Italian Civil Protection (Protezione Civile), working together with the extraordinary Commissioner appointed by the government for the Covid - 19 emergency.
- The remaining funding will be aimed at situations where the Group can make a significant direct impact: Generali clients that are in difficult circumstances as a result of the crisis such as small and medium-sized enterprises of sectors particularly affected by the crisis as well as their employees.
This initiative embodies the Group’s values that are represented with its Purpose – to enable people to shape a safer future by caring for their lives and dreams – with the desire to be a Life- time partner for our clients.