Generali launches Fenice 190, a five-year € 3.5 billion plan to support the sustainable recovery in Europe and the real economy
24 February 2021 - 10:00
- Fenice 190 is the initiative to launch the 190th anniversary of Assicurazioni Generali, founded in Trieste in 1831
- Over € 1 billion has already been allocated through 10 investment funds focused on infrastructure, innovation and digitalization, SMEs, green housing, health care facilities and education
- The initiatives planned to celebrate the 190th anniversary include the opening of the Procuratie Vecchie in Venice to the public for the first time in 500 years as it becomes the global hub of The Human Safety Net
- The first edition of SME EnterPRIZE, dedicated to the most sustainable SMEs, will be launched
Trieste – Founded in Trieste on 26th December 1831, Generali turns 190. This historic anniversary will be celebrated in 2021 with a series of initiatives for employees, agents, customers and the communities in which the Group operates. To mark this occasion and leave a tangible and lasting recognition of the bond between the Company and the regions where it was born and has prospered, Generali announces Fenice 190, a € 3.5 billion investment plan to support the recovery of the European economies impacted by Covid-19, starting in Italy, France and Germany and to then target all of European countries in which Generali operates throughout the five years of the plan.
Fenice 190 will make the extraordinary initiatives launched in 2020 to tackle the effects of the pandemic permanent, which included investments in support of SMEs and the real economy already surpassing the established objective of € 1 billion. To add to this initial amount, Generali is pledging an annual commitment of € 500 million per year, over the next 5 years, for sustainable growth through international investment funds focusing on infrastructure, innovation and digitalization, SMEs, green housing, health care facilities and education.
Generali Group CEO, Philippe Donnet, said: “Generali is one of the few companies in the world that can boast such a long history. It possesses an extraordinary wealth of knowledge and experience, thanks to which the Group is able to face the challenges of today while contributing to a better future for the communities in which it operates, both as an insurer and a social innovator. The 190th anniversary falls in a decisive year in which we must overcome the most serious global crisis of the post-war era and lay down the foundations for a wide-scale global recovery. With Fenice 190, we want to be a leader in this journey, leaving a concrete legacy for the future, with significant support for the most innovative, sustainable and strategic sectors for the restart of the European economy, while at the same time encouraging the inclusion of those most heavily impacted by the crisis.”
The Fenice 190 plan is implemented through the Generali Investments multi-boutique platform and is open to third-party funds and institutional investors as well as all companies of the Group, that can participate in investment allocation based on their own objectives. The selection of initiatives is guided by an investment committee of the Asset & Wealth Management Business Unit, led by CEO Carlo Trabattoni, with experts in real assets, sustainability, private markets, credit and equity. The CEO of Generali Real Estate, Aldo Mazzocco, is in charge of the committee which uses an approach based on compliance with the 17 United Nations Sustainable Development Goals (SDGs) and the specific objective to generate a positive impact on the economic recovery and the real economy in Europe.
To date, ten investment opportunities have already been identified for a multifaceted commitment of € 1.05 billion, ranging from support to European SMEs, green housing and infrastructure with a particular focus on digital, health and energy transition that share a strong focus on environmental and social sustainability.
The celebrations of Generali’s 190th Anniversary
The Chairman of Assicurazioni Generali, Gabriele Galateri di Genola, said: “Today more than ever, in an unprecedented context, the Generali Group intends to build a shared and sustainable vision for the future of all stakeholders. In 2021, the year that we hope will mark the start of the economic recovery, we celebrate our anniversary through a number of initiatives that combine past and future to offer new opportunities for growth and sharing. We are committed to being part of the development towards an increasingly sustainable society by implementing the ambitious Fenice 190 investment program. At the same time, we intend to build on the extraordinary legacy of skills and history in the Company so that it can stimulate knowledge and inspiration for future generations.”
Generali is celebrating 190 years of life with a series of initiatives taking place throughout 2021. December will mark the completion of the restoration and renovation project overseen by David Chipperfield Architects for the Procuratie Vecchie in Venice, which will be opened to the public after 500 years, becoming the global hub of The Human Safety Net Foundation.
The Human Safety Net was founded in 2017 with the mission of unlocking the potential of vulnerable people so they can improve the living conditions of their families and communities. The programs offer support to families with children ages 0-6 and promote the integration of refugees through work and entrepreneurship. The Human Safety Net is currently present in 23 countries, working closely with a network of more than 50 non-profit organizations to maximize its impact on communities. It is a social innovation platform which will host dedicated activities in Venice using its facilities for the exchange of ideas on society’s most pressing issues. In doing so, Generali pursues its goal of transforming Venice into the capital of sustainability.
Autumn will see the first edition of SME EnterPRIZE, an initiative dedicated to European small and medium-sized enterprises with the goal of encouraging them to adopt sustainable business models, to provide visibility to those which have already done so, and to stimulate public debate on the subject. An online platform will be activated to share best practices and download content and information about sustainability. At the same time, the first edition of a White Paper on sustainability created with Bocconi University will be presented, dedicated to the effects of the introduction of sustainability principles in European SMEs.
The 190th anniversary celebrations will involve Trieste - the city where Generali was founded in December 1831 - and the local community. In the new spaces in Palazzo Berlam, recently renovated by architect Mario Bellini, the Company’s Historical Archives will be opened to the public with an innovative interactive format. Courses and classroom lessons at the Group Academy, the new global training center, will also be launched in Palazzo Berlam.
Continuing with Generali’s tradition of exploring contemporary issues through the language of advertising posters, the Company will give five young Italian and international artists the task of interpreting five key areas for the Group with the “This is Tomorrow” project, creating posters capable of representing reality in a new way.
The more than 70,000 employees of the Group will also play a leading role in celebrating the milestone of 190 years of history. Through a global initiative they will be asked to tell their personal “story” of Generali on a dedicated platform, combining personal experience with the Company’s rich heritage. The contest will select the best stories, identifying 190 Lions who will be able to actively participate in Generali’s 190th anniversary initiatives.
On the Group’s institutional website, generali.com, a new section dedicated to the anniversary will display the main initiatives as well as a series of editorial content related to the history of Generali.