Generali held its annual general meeting (AGM) on April 25, 2025, where important decisions were made regarding the company’s future. The meeting approved a new dividend and welcomed a refreshed board of directors.
The newly elected board consists of 13 members who will serve for three years, until the 2027 financial statements are approved. This change comes after three lists were submitted for the election. The majority shareholder, Mediobanca, saw its list receive 52.38% of the votes. Another list from VM2006 gained 36.85%, while a third list presented by various UCIs under Assogestioni fell short at 3.67%, failing to meet the 5% requirement for election.
From the majority list, Andrea Sironi was appointed as the independent chair, with Philippe Donnet continuing as CEO. Other board members include Clemente Rebecchini, Luisa Torchia, and Clara Furse, among others. The VM2006 list saw Flavio Cattaneo, Marina Brogi, and Fabrizio Palermo elected. Most of the newly elected members confirmed they meet the independence and eligibility standards set by insurance regulations and the company’s governance code.
An alliance between UniCredit SpA and investor Francesco Gaetano Caltagirone aimed to support a minority list of candidates but did not succeed. Caltagirone has been critical of CEO Donnet, particularly following a merger involving Generali and BPCE’s asset management operations.
The new board’s first meeting is set for April 28, 2025, where they will discuss appointments to corporate bodies. The AGM also saw the appointment of Annalisa Firmani as an alternate auditor for the Board of Statutory Auditors for the financial year ending December 31, 2025.
In addition to board changes, shareholders approved the financial statements for 2024, which showed a net result of €3,724 million. A dividend of €1.43 per share was also approved, with payment scheduled for May 21, 2025. Generali’s net result for 2024 increased from €3.58 billion the previous year, despite lower net realized gains.
This AGM marks a significant step for Generali as it looks to strengthen its leadership and continue its growth in the insurance sector.