Generali SpA

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We are the market leader in Italy, with a total share of 15%. The country is one of the Group's key markets, accounting for about a third of premiums and around half of the operating result. 

Key Events in Italy

Italy is our biggest market, with over 10 million clients and a total premium income, in 2014, of €23.5 billion. It accounts for 33% of total premium income and 48% of the Group's operating result.

We are the market leader in Italy with a 15.4% market share: 15% in life insurance and 16.3% in P&C.

We offer our clients, individuals, small and medium-sized enterprises, and large companies a full range of life and P&C insurance solutions. Through our subsidiary Banca Generali, we also offer financial products for pensions and asset management, as well as the emerging hybrid product sector.

At the distribution level, we have a multi-channel strategy strongly centred on agencies (3,200 agents, over 14,500 sub-agents and employed sales personnel, and more than 21,000 independent sales personnel and non-agency contractors. Networks supported by 1,500 financial advisors). More specifically, with Genertel – Genertellife we have become leaders in direct channels.

Development Plan

In 2013, in Italy, we began the largest restructuring programme in the European insurance industry, with the creation of Generali Italia.  The restructuring involved investments of over €300 million and is aimed at simplifying the brand and the dealer network by streamlining the business model.

Specifically, the plan is aimed at:

  • consolidating similar brands, creating three brands from the current ten, and a single integrated distribution network from the current six independent networks.

    The integration began in 2013 with the launch of Generali Italia, and will be completed by 2015. The repositioning is aimed at integrating existing brands into just three brands, each with their own clear strategic positioning: Generali (the unit dedicated to "commercial" activities), Alleanza (the brand of choice for families, with its own network of direct sellers and a range of life and P&C insurance products) and Genertel (alternative channels). The plan is moving forward as expected.
  • fully integrating operational models with centralised IT systems and removing duplicate products and services. 

The Life Segment

At the close of 2014, there was a sharp increase in life premium income, up 31.3% compared to 2013, thanks to the growth in new business (+46.5% in the first nine months).

Despite the economic crisis and low levels of household saving, the current low market interest rates have made the offering of insurance products with a guaranteed minimum return and long-term savings products more attractive. 

P&C Segment

In 2014, the P&C market suffered a slight slowdown (-3.1% on 2013). The continuing economic crisis and strong competition contributed to the drop in premiums, despite the increase in car registrations (+4.2% at year-end).

Group Structure

Insurance companies

Generali Italia (
“Generali Italia” is the company that - effective from July, 1 2013 – has been set up out of the transfer of the Assicurazioni Generali S.p.A.’s insurance business to INA ASSITALIA S.p.A., which in turn has been renamed “Generali Italia S.p.A”. By 2015 only three Group companies will operate in Italy: Generali, Alleanza and Genertel.

Alleanza Assicurazioni (
Company dedicated to Italian families, with its network of direct producers and a range of Life and P&C products.

Genertel (
Headquartered in Trieste, the company has been operating since 1994 and was the first Italian company to utilise the telephone channel to sell auto insurance. Genertel is currently market leader in the telephone and internet sale of insurance products.   

Genertellife (
Genertellife, located in Mogliano Veneto, is with effect from February 2009, the new name of “ La Venezia Assicurazioni ”, which started its life insurance activity back in 1987. Genertellife is the first company in Italy to offer life products directly via internet and telephone. “La Venezia” is still used as commercial brand of Genertellife. As of August 1, 2012, FATA Vita is used as a commercial brand of the company. 

Asset management

Gruppo Banca Generali (
The Banca Generali group’s goal is to allow the Generali Group to gather within one company all its activities related to offering and managing financial products for the Italian retail market.    

Generali Investments (
The Holding Generali Investments was established in early 2007, following a profound reorganisation of all Italian and foreign assets management companies. 

Generali Immobiliare Italia SGR (
Generali Immobiliare Italia SGR is the Generali Group’s company specialized in promoting and managing real estate funds. Established in 2006, it is already one of the Italian’s leading real estate asset manager. 


Genagricola (
Genagricola is Assicurazioni Generali’s agro industrial holding, operating in various agricultural areas.