Generali accelerates the integration of Alleanza into Generali Italia.: the board of directors has approved the project fusion by incorporation of Alleanza Assicurazioni into Generali Italia, a move aimed at simplifying the corporate structure and generating benefits in capital management. The network of approximately 10 consultants will maintain its autonomy and the historic Alleanza brand, the Lion explains in a statement.
Alleanza is already entirely controlled by Generali Italy, but the integration will allow for a more direct transfer of intragroup dividends, with expected benefits for capital management. The life insurance company has premium income of approximately €11,5 billion, serves 1,9 million customers, and is the third-largest Italian life insurance company. In 2025, it also strengthened its relationships with General Bank through a partnership in insurbanking. With the merger, Alleanza will become a division of Generali Italia. The operation is part of the rationalization process of the Country Italy launched in recent years by the group, the note continues.
Alliance maintains network, identity and brand
The integration has been structured in such a way as to preserve the commercial identity of AlleanzaThe distribution network will maintain its autonomy and continue to operate under the historic brand, while Alleanza will become part of Generali Italia as a division. The process will be led by Marcus Oddone, long-time manager of the Lion and new CEO of Alleanza after leaving the group David Sparrow. Furthermore, the integration project reportedly failed to receive a unanimous vote within Generali's board of directors.
The merger by incorporation should be completed within the first half of 2027, but the completion of the operation remains subject to obtaining the necessary authorizations from Ivass and other obligations required by law.
On the job front, First Cisl He emphasized the guarantees for the personnel involved. National Secretary Antonio Zanelli highlighted the priority of protecting employment, salary, and professional standards, also emphasizing the value of the Alleanza brand: "It is a brand that must be protected because it represents an enormous wealth of human capital that must be preserved and enhanced."
Generali and MPS's takeover bid for Banca Generali
The Generali board of directors also discussed the dossier relating toMonte dei Paschi di Siena's takeover bid for Banca Generali, a transaction that directly involves the insurance group. Generali, led by CEO Philippe Donnet, holds 50,01% of the capital of Banca Generali, led by Gian Maria Mossa. The dossier is being worked on by advisor Zaoui & co and Evercore, appointed by Generali to analyze the operation and provide their opinions. For any decisions on the future of the participation, the next key appointment will be October 29th, when theextraordinary assembly of Siena will be called to vote on the Ops.
If the offer is successful, Generali, through the transfer of Banca Generali shares, would become a shareholder with approximately 12% of the new banking entity. This could open up new commercial and industrial opportunities, starting with the possibility of using the network of over 1.500 MPS branches to distribute life and non-life insurance policies. This opportunity is particularly significant considering 2027, when the merger is expected. deadline of the historic Bancassurance alliance between MPS and AXA.
