Il Phoenix Fund 190 del Gruppo Generali, established in February 2021 to support sustainable economic growth in Europe, has identified investment opportunities for approximately 700 million euros in 10 different initiatives in Italy, France and Germany. The Fund envisages a commitment of 2,5 billion euros (500 million per year from 2021 to 2025), in addition to the one billion allocated by the Generali Group companies as extraordinary anti-crisis initiatives launched in March 2020, to be invested in small and medium-sized enterprises to support environmental sustainability (energy transition and the fight against climate change) and local communities.
Overall, the Generali Group through the Fenice 190 Plan will invest around 3,5 billion euros until 2025 to concretely support the economic recovery in Europe.
Fenice 190 fund by Generali
Fenice 190 is a Fund of funds under Luxembourg law established in 2021. The Fund is classified as an Article 8 under the SFDR regulation and has two clear objectives of promoting ESG principles: an environmental objective, aimed at supporting the European commitment towards climate neutrality by 2050 (renewable energy and transport) and a social objective, to support economic recovery and improve people's well-being and quality of life, channeling investments for the relaunch of European economies in a sustainable key, but also by financing companies that promote fairer working conditions and the reduction of inequalities (SMEs and social infrastructures). Fenice 190 follows an investment approach in line with i 17 Sustainable Development Goals (SDGs) of the United Nations with the specific objective of generating a positive impact on the real economy in Europe.
The Fund is organized into 8 compartments e two risk profiles: an “Income” which includes funds from Private Debt, infrastructure debt and low-risk real estate funds, and a “growth” profile that includes Private equity, growth-oriented Real Estate funds and infra-equity funds, in order to best cover all the asset allocation needs of an advanced institutional investor, both internal and external to the Generali Group. The Fund is open to third party investors, who will be able to co-invest with the insurance companies of the Generali Group, benefiting from the same expertise and the same governance and management conditions as the Fund itself. The Fund will continue its investment activity with a second round of commitments for 2023.
Trabattoni: "the Fund confirms its commitment to sustainability"
Carlo Trabattoni, CEO Business Unit Asset & Wealth Management of Generali, commented: “This is a five-year program strongly desired by the Generali Group to significantly contribute to the development of essential infrastructures in the energy, transport, health and of digital networks. Since we launched this initiative we have been evaluating an enormous pool of potential investments as proof of the dynamism of entrepreneurial initiatives in our country and at a European level. This first investment commitment confirms our commitment to sustainability, which we understand as the right balance between the return for our investors and the positive contribution to society and local communities".
Generali: the new "Activate Tourism" solution is born
Generali, "Life Partner" of companies, launches in Italy "Activate Tourism“, the new solution dedicated to protecting the activity of over 200 accommodation facilities in Italy. The offer, included in the Attiva line and available in all Generali agencies from 13 October 2022.
Marcus Oddone, Chief Marketing & Distribution Officer of Generali Italia and Tommaso Ceccon, Chief Property & Casualty Officer of Generali Italia, declared: “Through the new Attiva Turismo solution, we aim to protect and support the business continuity of the over 200 accommodation facilities that are today present in Italy. For us, this means being a Life Partner in the relevant moments to do business well and support the country's recovery".
The Attiva Turismo solution is based on three distinct insurance modules designed for the different areas of need of accommodation and hotel businesses:
· Activity protection module: responds to the need related to the protection of company assets by proposing fire, atmospheric events, extraordinary events and Plants, catastrophic events and theft;
· Asset protection module: responds to the need linked to the protection of corporate assets by proposing civil liability coverage and legal protection;
· Digital protection module: responds to the need related to the protection of corporate digital assets by offering All Risks electronic coverage and Cyber Risk coverage.
These modules can also be combined and activated together with two other cross-cutting modules:
· Prevention and assistance module: responds to the need related to assistance and rescue and is always present for the asset and asset protection modules in relation to the Pronto Avvocato guarantee; it also provides for the possibility of activating the Tourism Assistance guarantee;
· Continuity protection module: supplements the coverages of the asset protection and digital modules with different coverages against damages from business interruption.
