The new 2025-2027 strategic plan is still quite far in the future and Assicurazioni Generali is evaluating the option of streamlining the group’s perimeter. According to rumors reported by Bloomberg, the Lion of Trieste has started the process of selling its units in Turkey and the Philippines through two separate processes. From the headquarters of the largest Italian insurance company came the most classic of “no comments”. These are not significant assets for the group: on the one hand the small Generali Sigorta AS branch based in Istanbul and on the other Generali Life Assurance Philippines. For both there would be half a dozen suitors interested in taking them over. Even adding the two possible disposals, the two dossiers are unlikely to exceed the amount collected from the last sale (Tua Assicurazioni to Allianz for 280 million euros). All of this falls within the direction that CEO Philippe Donnet (pictured) is following, i.e. a rationalization of the structure to focus on key markets and segments. All of this falls within the direction Donnet is following, i.e. a rationalization of the structure to focus on key markets and segments. In terms of revenue, however, no M&A operation is looming on the horizon, as reiterated in the margin in the presentation of the first quarter accounts.
«Once the 500 million buyback approved by the last meeting and the share buyback mentioned above are completed, Generali will no longer have cash margins to make acquisitions», said Generali’s CFO, Cristiano Borean.
Next year will also see the renewal of the board in the spring, with Donnet being able to make use of the record dividends of the last three years and the shares of Leone which have risen to the highest levels in fifteen years.
