2022 Annual General Meeting

On April 29th, the ordinary and extraordinary Annual General Meeting (AGM) of Assicurazioni Generali was held under the chairmanship of Gabriele Galateri di Genola. As is tradition, the Meeting took place in Trieste, where the Company was founded in 1831. The event was held through live video streaming from the historic Palazzo Berlam, which houses the Generali Historical Archive, next to Palazzo Carciotti, where the Company’s deed of incorporation was signed.

“The record participation in the vote is an important testimony to the Shareholders’ active involvement in the life of the Company, and to the solidity of the bond we have built over the years”, the Chairman of Assicurazioni Generali, Gabriele Galateri di Genola, commented. “These have been years of great satisfaction. I have seen the Company grow, become increasingly solid, sustainable, international, inclusive, and innovative. But above all, I have seen this Company strive in every field to improve not only itself and its activities, but also, and above all, its people and its services to customers, while preserving its extraordinary, I would say unique know-how. I have seen it commit, every day, to improving the world, keeping people, their needs, and their infinite potential at the center,” he concluded before leaving the floor to the Group CEO and Group CFO.

“Before starting, I would like to sincerely thank Chairman Galateri for the great work he has done over the past eleven years”, said the Group CEO di Generali Philippe Donnet. “We have successfully navigated the challenging operating environment of the past few years, and our expertise from managing these situations ensures that we are well-placed to face future uncertainties”, he said, commenting on the most recent results of the Company.
“Truly strong results, which demonstrate the solidity of our business model even in the current context and which allow us to propose to you an increased dividend of 1.07 Euro per share. Today, we are even stronger than before! I am truly proud of this and grateful to all of our colleagues and agents for their contribution, which was fundamental”.

In conclusion to his report on financial statements and asset management, Group CFO Cristiano Borean commented: “In a context still characterized by the persistence of the pandemic, in 2021 Generali confirmed excellent technical profitability and operating performance, an extremely solid capital thanks to the positive contribution from normalised capital generation and the positive development of financial markets, and growing dividends in line with the target. These results allowed the Group to successfully conclude the ‘Generali 2021’ strategic plan. They represent a solid foundation for the ‘Lifetime Partner 24: Driving Growth’ strategy, focused on sustainable growth, an enhanced earnings profile and the creation of value for all stakeholders.”

The AGM then approved the 2021 Financial Statements and appointed, after setting the dimension of the Board at 13 members, a new Board of Directors to hold office for three financial years, that is, until approval of the financial statements for the year 2024.

•    The list presented by outgoing Board of Directors – the majority list – obtained 55.9% of votes.
•    The list presented by the shareholder VM2006 – the first minority list – obtained 41.73% of votes.
•    The list presented by several UCIs under the aegis of Assogestioni – the second minority list – obtained 1.9% of votes.

From the majority list, the following have been elected: Andrea Sironi (indicated as independent Chairman), Clemente Rebecchini, Philippe Donnet (indicated as Managing Director), Diva Moriani, Luisa Torchia, Alessia Falsarone, Lorenzo Pellicioli, Clara Furse, Umberto Malesci, Antonella Mei-Pochtler.

From the first minority list, the following have been elected: Francesco Gaetano Caltagirone, Marina Brogi, Flavio Cattaneo.

Further information is available in the press release.

In addition, the AGM approved: 

•    the Share Buyback Programme for the purpose of cancelling own shares as part of the implementation of the 2022-24 strategic plan, authorising the purchase and disposal of treasury shares for a maximum total disbursement of € 500,000,000.00 and for a maximum number of shares corresponding to 3% of the Company's share capital.
•    the Group's Long Term Incentive Plan (LTIP) 2022-24, authorising the purchase and disposal of a maximum number of 10 million and 500 thousand treasury shares to serve the 2022-24 LTIP.
•    the Share plan for Generali Group employees, with the aim of promoting the achievement of strategic objectives, a culture of ownership and empowerment and the participation of employees in the Group’s sustainable value creation.