Generali

The plan outlines an aggressive M&A strategy, as well as increased InsurTech investment, expansion plans and a target to lift earnings by more than 14% annually until 2024.

CEO of Generali Deutschland Giovanni Liverani will take over from Luciano Cirinà, as interim head of Austria, Central and Eastern Europe with immediate effect.

Generali’s second-largest shareholder said Luciano Cirinà was “considered by many within the group as the natural successor to the current CEO”.

The Italian carrier said, in a worst-case scenario of a full Ingosstrakh write-down, the net impact would be around EUR166mn.

GWP in the P&C segment grew 7% to EUR24.1bn, following a 4.9% rise in auto line business and 7.5% growth in its non-motor line.

Generali’s second-largest investor said he plans to put forward his own candidate to challenge the re-election of incumbent Philippe Donnet.

The Italian carrier will also wind down its Europ Assistance presence in Russia.

Who will lead Italy’s 191-year-old insurer over the next three years? Analysts have their say.

Andrea Sironi has been appointed as an independent director and will be put forward as the board’s candidate for chairman.

Analysts have told this publication that the wranglings at Generali are likely to be “more than about personalities – they're about the creation of value”.

The Italian insurer’s board has experienced a string of resignations in recent weeks.

The carrier has bought out positions in Future Generali India Insurance and Future Generali India Life.