Generali

Generali Group, short for Assicurazioni Generali S.p.A., is a global insurer founded in Trieste, Italy. It manages over €95 billion in gross written premiums, with reinsurance focused on risk excess and catastrophe cover.

History of Generali Group

Generali was founded in 1831 in Trieste as Imperial Regia Privilegiata Compagnia di Assicurazioni Generali Austro-Italiche. It was created by entrepreneur Giuseppe Lazzaro Morpurgo to offer insurance across Austrian-Italian regions.

The company grew into one of the world's top insurers and reinsurers. Other major milestones in Generali Group’s long history include:

• 1832: Giovanni Cristoforo Ritter de Záhony appointed as the Group’s first president in Trieste
• 1833: expanded rapidly across Italian states, empire cities, and Europe’s busiest ports
• 1920: Edgardo Morpurgo became president and drove global expansion
• 1994: launched Genertel, Italy’s first phone-based financial services company
• 1998: founded Banca Generali, which later expanded into private banking
• 2000: acquired INA Assitalia, boosting its market share in Italy
• 2011: created Generali Real Estate, a major real estate arm with landmark holdings
• 2023: acquired Liberty Seguros to expand in Spain, Portugal, and Ireland

Generali’s recent years saw strong moves in both leadership and market share. It also expanded its underwriting restrictions as part of the industry-wide push toward net zero goals.

Reinsurance products and services

Generali Group offers reinsurance products that help reduce exposure to large losses and support underwriting across diverse markets:

• treaty reinsurance: automatic coverage for grouped policies under set contract terms
• facultative reinsurance: individual coverage for specific high-value or excluded risks
• risk excess of loss: reinsures large losses that exceed a chosen retention
• catastrophe excess of loss: protects against disaster-driven losses like earthquakes or floods
• aggregate excess of loss: covers frequent mid-sized losses over a 12-month period
• stop loss reinsurance: limits total yearly losses once a percentage of premium is reached

These products help Generali manage risk in both stable and high-loss markets. Generali Group adjusts limits and terms to match its risk appetite and capital goals.

Culture and core values

Generali Group builds its strategy around a caring culture focused on people’s lives, dreams, and future. Its purpose is to help people feel safe and empowered in a world that’s always changing.

Its values reflect what the company stands for and how it acts every day, no matter what:

• Deliver on the Promise: builds lasting trust by focusing on long-term impact for clients and stakeholders
• Value Our People: supports personal growth, equal access, and open learning for every employee
• Be Open: promotes diverse thinking and encourages curiosity, dialogue, and fresh views
• Live the Community: stays rooted in every market with strong, meaningful local relationships
• Our Behaviours: uses daily habits to stand apart and achieve goals the Generali way

Generali’s Code of Conduct shapes consistent, ethical choices and supports a workplace built on honesty. Its shared values help guide every person in the Group through tough decisions with clarity and respect.

Workplace environment and benefits

It fosters a fair and inclusive space where people feel appreciated and able to grow. Generali’s approach balances flexible work, healthy routines, and open paths for career progress. Employees are also provided with:

• hybrid work options: smart working and flexibility programs support balance
• collaborative spaces: open layouts built for teamwork and connection
• wellness-focused offices: friendly, casual, and health-conscious environments
• family support: policies help blend work and home life
• employee rewards: fair pay, bonus options, and global perks
• health benefits: access to care in every region
• pension and protection: global plans and employee coverage
• product discounts: savings on Generali insurance offerings

Through global mobility, Generali Group helps talent gain new views and grow across different cultures.

Sustainability approach

Generali's “Lifetime Partner 27” plan makes sustainability part of its core business goals. The Group acts as a responsible insurer, investor, employer, and global citizen. Its strategy links purpose with real action across all operations.

The future at Generali Group

The firm recently entered a new chapter shaped by advanced research and global partnerships. A collaboration with MIT will support smarter risk tools and better underwriting models. These efforts aim to guide long-term growth across all business areas.

Generali Group continues to build on its global strategy with new moves tied to risk and capital strength. Recent steps focus on reinforcing underwriting and using smarter reinsurance structures across key business lines. These changes aim to support stable success, long-term value, and strong group-wide performance.