Generali
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Kanu will succeed interim leader Manlio Lostuzzi. -
Profits were up 8% at a group level, with strong performance across both life and P&C.
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This publication’s review of H1 disclosures shows how listed (re)insurers’ nat cat losses have tallied with aggregate projections.
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Generali said wider group performance was driven by positive development of the life, P&C and other businesses segments.
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Caltagirone, Generali’s second-largest investor, stepped down from the insurer’s board in May, less than a month after leading a failed bid to oust CEO Philippe Donnet.
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The move comes in the wake of a major leadership battle, in which several powerful shareholders tried to oust CEO Philippe Donnet.
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Francesco Gaetano Caltagirone, Generali’s second-largest shareholder, has reportedly lined up Luciano Cirinà to replace him.
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Roberta Neri had been offered the position to replace the insurer's second-largest shareholder Francesco Gaetano Caltagirone, who quit the board last month.
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The tycoon spearheaded efforts to oust CEO Philippe Donnet, which failed at last month’s AGM.
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Net profit decreased by 9.3% to EUR727mn due exposure to Russian fixed income instruments and its stake in Russian carrier Ingosstrakh.
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Rebel directors including Caltagirone have refused to serve on committees.
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Generali’s list of nominees received 56.8% of the vote, while the rebels received 42.2%.
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