Global Lines & International
In terms of size, GBL & International is the largest business unit, comprising over 20 countries grouped into 2 regions - Asia, Americas & Southern Europe – Spain, Switzerland, four global business lines (GBL) and Vitality.
Figures as at 31.12.2017
For further information on the regions Americas & Southern Europe and Asia, as well as Global Business Lines please refers to the related sections.
The Group’s main Country of the area are Spain and Switzerland.
Country Spain (Figures as at December 31, 2017, market shares and rankings refer to 2016)
Generali has been in Spain since 1834 and currently exercises its presence with Generali España, a fully-owned subsidiary, and through two bancassurance agreements in a joint venture with Cajamar (Life and P&C) that ensure the Group exposure to the main Life distribution channel and continuous expansion in the P&C channel as well. Generali is one of the main insurance groups in Spain, with a total market share of 3.3% in the Life segment and 4.5% in the P&C segment. The Generali España group offers a wide range of Life and P&C policies dedicated to private individuals and companies, using a multi-channel distribution strategy including not only bank offices, but a network of agents and brokers which is among the most extensive in Spain. Overall, the Group ranks 8th in the Spanish insurance market in terms of total premiums.
With reference to the insurance market, the P&C segment continued to keep up its growth trend in 2017, also thanks to an overall macroeconomic recovery of the country. On the contrary, the Life market recorded a slow-down and decrease both in savings products and protection products.
Country Switzerland (Figures as at December 31, 2017, market shares and rankings refer to 2016)
Generali has been operating in Switzerland since 1987 and over the following decade its presence was consolidated by the acquisition and merger of many insurance companies. In accordance with the Group strategy, Generali Switzerland focuses on the retail business and provides high quality and innovative services, through various distribution channels: agents, brokers, financial advisors and direct channels. Generali Switzerland is the number eight insurance group in terms of premium income in the Life and P&C segments. The Life market share is 3.7%, while that of the P&C segment is 5%.
The Life insurance market recorded a slight decline, while the P&C market continued to grow, albeit weakly. More in general, the Swiss economy has always proven solid, even following the Central Bank’s decision to abandon the exchange rate floor. Following a period of stability in the beginning, in 2017 the Swiss currency slowly began to depreciate due to the euro appreciation (after the French elections), with the country’s desire to back export contributing. However, the inflation rate is still close to 0% and the domestic GDP hovers around 1% in spite of the forecast progression for 2018.
MAIN GROUP COMPANIES
- GENERALI ESPAÑA - SPAIN
- GENERALI SEGUROS - SPAIN
- GENERALI SCHWEIZ - SWITZERLAND
- GENERALI BELGIUM S.A. - BELGIUM
- GENERALI WORLDWIDE INSURANCE COMPANY LTD. - GUERNSEY
- ASSURANCE MAGHRÉBIA SOCIÉTÉ D'ASSURANCE ET DE RÉASSURANCE S.A. - TUNISIA
- GENERALI SIGORTA A.S. - TURKEY
- ASSICURAZIONI GENERALI - UNITED ARAB EMIRATES