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Home Headlines Allianz CFO headed for Generali to lead insurance business – Italian media

Allianz CFO headed for Generali to lead insurance business – Italian media

by Uma Rajagopal
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2023 09 29T090821Z 1 LYNXMPEJ8S09J RTROPTP 4 ALLIANZ LITIGATION

Allianz CFO headed for Generali to lead insurance business – Italian media

MILAN (Reuters) – Allianz’s Chief Financial Officer Giulio Terzariol is set to leave his post at the German group to take a top job at Italy’s biggest insurer Assicurazioni Generali, two Italian newspapers reported on Friday.

Dailies la Repubblica and La Stampa reported Terzariol would become the head of the insurance business of Generali, which also has large asset management operations.

Terzariol will report directly to Chief Executive Philippe Donnet, la Repubblica said, with La Stampa adding the appointment was expected in the next few days.

Both Generali and Allianz declined to comment. Terzariol was not immediately available for a comment.

Donnet was reappointed as CEO for the Generali group last year, after surviving a challenge from some rebel domestic investors, who questioned his strategy calling for a more aggressive M&A policy.

The Italian press at the time mentioned Terzariol as a possible candidate to the CEO role sponsored by the main rebel shareholder, Italian buisinessman Francesco Gaetano Caltagirone.

However, Caltagirone put forward instead as his CEO candidate a former Generali executive who failed to secure sufficient support at a shareholder meeting called to appoint a new board.

Separately on Friday, two sources close to the matter said Allianz’s supervisory board would approve next week extending by three years the mandate of CEO Oliver Bäte, whose contract is currently set to end on Sept. 30, 2024 according to the Allianz website.

 

(Reporting by Gianluca Semeraro; additional reporting by Alexander Huebner, editing by Valentina Za)

 

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Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.