Generali Group

          where we are



          International area consists of Spain, Switzerland, Americas and Southern Europe, and Asia.


          Data at 31.12.2019

          Gross written premiums € 8,484 mln
          Total operating result € 677 mln
          Our people 13,133


          Generali, in Spain since 1834, operates in the country through Generali España, a wholly-owned subsidiary, and two bancassurance agreements with Cajamar (Life and P&C), which guarantee the Group exposure to the major Life distribution channel and continuous expansion in P&C.
          Generali is one of the main insurance groups in Spain, with a market share in 2018 of 3.0% in the Life segment and 4.4% 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 also a network of agents and brokers which is among the most extensive in Spain. All in all, the Group ranks ninth in the Spanish insurance market in terms of total premiums (sixth place in the P&C market).

          The Generali Group has been operating in Switzerland since 1987, where it has been able to consolidate its position through the acquisition and merger of several insurance companies. In line with the strategy defined by the Group, Generali focuses on the retail business and provides high quality and innovative services through various distribution channels: agents, brokers, financial promoters and direct channels.
          Generali ranked as the number two insurance group on the market in terms of premium income in the individual Life segment with a 14.9% market share, and was eighth in the P&C segment with a 4.7% market share. Generali does not operate in the Collective Life segment.
          In 2019, the insurance market recorded a substantial stagnation of the Life segment (+0.6%), partly caused by the continuing low interest rates. The P&C segment on the other hand continued with slow, though constant, growth.

          Americas and Southern Europe
          Generali is ranked as the fifth operator in Argentina, which is the main South American market for the Group. It is marked by a historically high inflation rate and a volatile financial situation. Despite this 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 leads the market in Argentina, excluding the business lines in which it does not operate (Workers Compensation and Annuities).
          The second most important country of the Region is Brazil that, following an extended period of economic crisis and political instability, continues to show signs of improvement, bolstered by infrastructure investments and optimistic forecasts of the macroeconomic indicators. Specifically, the insurance sector today is characterised by significant expansion potential and a hike in the penetration level.
          The Generali Group also operates in Chile, Ecuador and the USA.
          In Southern Europe, the Group operates in Greece, Turkey and Portugal, where it has reinforced its strategic positioning through the acquisition, completed in early January 2020, of 100% of Seguradoras Unidas and AdvanceCare, becoming the second largest insurance Group of the country in P&C, and the third most important of the entire market.


          Generali is one of the key European insurers in Asia, and currently operates in eight markets. The predominant segment is Life, with premium income mostly concentrated in the savings and protection lines and, to a lesser extent, in unit-linked. Generali offers its products throughout the entire region adopting a distribution strategy that includes agents, brokers, digital channels and agreements with banking groups.
          Generali operates in mainland China with Generali China Life, in partnership with China National Petroleum Corporation (CNPC), which is one of the largest Chinese state-owned companies as well as one of the major energy groups in the world. Generali also has a joint venture agreement with CNPC for its P&C products. Owing to its prominent presence in the Chinese market, Generali China Life is the leading contributor to the turnover and operating result of the entire region.
          Future Generali Insurance is a Life and P&C joint venture with Future Group, one of India’s major retailers. Its purpose is to offer insurance solutions throughout India, also by leveraging the distribution network of Future Group’s digital channel. In December 2018, the Generali Group increased its share to 49% by investing up to € 120 million.
          Generali operates as Life insurer also in the emerging markets of the Philippines, Indonesia, Thailand and Vietnam, and as P&C insurer in Thailand and Malaysia, in the latter market with a 49% investment in MPI Generali.
          The companies China P&C, India Life, India P&C and in Malaysia are not fully consolidated since a non-controlling interest is held.
          Generali has also been operating in Hong Kong since 1980, offering both Life and P&C products. Hong Kong SAR is also the location of Generali’s regional office (Generali Asia Regional Office), which coordinates all activities in the region.


          MANAGER IN CHARGE The CEO International is Jaime Anchùstegui Melgarejo.