The focus for Generali "is sustainable growth". Acquisitions are not mandatory but will be carefully evaluated and submitted to the shareholders' meeting. “Should an opportunity for growth arise, the shareholders would not fail to support us. However, we aim to be the best company and not necessarily the biggest”. These are some of the most significant passages of the interview that the president of Leona, Gabriele Galateri gave to Corriere della Sera on the eve of the assembly of the insurance group scheduled for tomorrow, Thursday 27 April in Trieste.
Galateri confirms that the markets in which the company intends to develop are Eastern Europe, Asia and South America, in a long-term perspective and in the insurance core business. After Intesa Sanpaolo's attempt to conquer Generali, which later failed, the manager reiterated that the company does not feel like a possible prey for potential takeovers. Galateri underlined “we are Italian and we intend to remain so. After that, the larger the shareholder base, the better: 40% is held by international funds”. “And if tomorrow a foreign fund were added to our stable shareholding – he continued – it would be welcome”. And he added that, if a growth project were presented, the shareholders' meeting would be convened directly to discuss it. Generali's objective, however, will continue to be to continue on a path of sustainable growth, in order to "guarantee shareholders and stakeholders a development trend with attention not only to profitability and dividends, but also to the environment, employees, innovation and governance”.
Will a new general manager be appointed after Minali's departure? "Decisions on governance - is the answer - are up to the board, obviously in agreement with the managing director".
