Americas & Southern Europe
The region includes Argentina, Brazil, Chile, Ecuador, the USA, Greece, Portugal and Turkey.
Figures as at December 31, 2017, market shares and rankings refer to 2016, Region Americas. The Americas & Southern Europe Region is active from January 1, 2018
Argentina, where Generali ranks as the fourth operator, is the major market for the Group in this region. It is marked by a historically high inflation rate and a volatile financial situation, which has become accentuated following the political elections at the end of 2015. Nonetheless, starting from the second half of 2016 the economy began to show signs of stabilization and opening up to the international markets; positive signals for the future of this key country on the Latin American continent.
Its economy, and inflation in particular, are stabilising due to the measures taken by the government. In such a tough scenario for the insurance business, the Group has implemented best practices in its Argentinian subsidiaries, enabling them to stand out in terms of service quality and innovation. The company Caja is the market leader, not counting the business lines where it does not operate (Workers Compensation and Annuities).
Brazil is the second most important country. Despite its systemic turmoil - a prolonged period of economic crisis and political instability from which the country appears to have left during 2017 - Brazil can boast an emerging middle class that represents development potential for the insurance market in the years to come.
The Group also operates in Chile, Ecuador and the USA. During 2017, agreements were reached to sell Colombia and Panama and they were finalized in April 2018.
MANAGER IN CHARGE
The CEO International is Jaime Anchùstegui Melgarejo.