Generali Group

What Generali Group does

Generali Group (Assicurazioni Generali S.p.A.), founded in 1831 and headquartered in Trieste, Italy, is one of the largest global integrated insurance and asset management providers, publicly listed on the Milan Stock Exchange (BIT: G). The group distributes Life, Property & Casualty, Health, and Asset & Wealth Management products through a captive network of 163,000 advisors, bancassurance partnerships (notably Central Bank of India across 4,500+ branches and UniCredit in Central and Eastern Europe), broker and digital channels, and a Global Corporate & Commercial (GC&C) division serving multinational programs in 180+ countries. In FY2025 it collected €98,124 million in gross written premiums (Life €61,943M; P&C €36,181M), generated an operating result of €8,004 million (+9.7% YoY) and net profit of €3,515 million, managed €900 billion in AUM, and served 75 million customers across more than 50 countries.

Its technology and product stack centers on a multi-year platform consolidation: Insurance in a Box (IIAB), a shared core insurance platform covering ~15 million policies and rolled out by the new in-house Generali Core Tech software factory (~150 specialists, €1.2–1.3 billion investment); AGORA, a cloud-native SaaS underwriting platform built on Microsoft Azure with Capgemini that delivered 80% faster underwriting and 75% lower support costs at GC&C; GlobalTracer, a GenAI tool for multinational program documentation; Generali France's 50+ AI agents on Microsoft Copilot Studio and Azure OpenAI; the Aquarius risk analytics platform from Intermap; and Clearwater Analytics-powered unit-linked fund operations at Generali Deutschland. The Redion Care platform consolidates Europ Assistance and Generali Employee Benefits (plus Swiss Life Network) into a single global brand operating in 190+ countries with €5.8 billion in annual business volume.

Generali's revenue mechanics rest on recurring insurance premiums (Life and P&C), asset and wealth management fees on €900 billion AUM, employee benefits and travel assistance revenue under Redion, B2B2C cybersecurity services via Iris Powered by Generali, and ESG-linked insurance solutions that grew at a 12.3% CAGR through 2024. Pricing is quote-based and varies by jurisdiction, channel, and risk profile; the group reported a 92.6% combined ratio, 5.66% new business margin on PVNBP, and a €1.64 per share FY25 dividend alongside a €500 million share buyback. Recent strategic moves include the €2.3 billion Liberty Seguros acquisition (closed January 2024), full ownership of Generali China (March 2025), the Swiss Life Network acquisition and Redion brand launch (H1 2026), the divestiture of RedClick Ireland to Zurich for €337 million, and an active partnership pipeline with Anthropic, Capgemini, Microsoft, Clearwater Analytics, Intermap, and ECMWF.

Name

Generali Group

Legal name

Assicurazioni Generali S.p.A.

Website

https://generali.com

Company type

Public

Founded year

1831

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Generali Group is a global integrated insurance and asset management provider offering Life, P&C, Health, asset management, and employee benefits products across 50+ countries. It serves 75 million customers via 163,000 advisors, managing €98 billion in FY25 gross written premiums and €900 billion in AUM.

Ownership category

akta.pro rank

Product category

Global Insurance and Asset Management

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Health and Welfare Funds (525120), Insurance Agencies and Brokerages (524210), Portfolio Management and Investment Advice (523940)

SIC

Life Insurance (6311), Accident & Health Insurance (6321), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Large Group Health Insurance (Mid-Market & National Accounts) (FSAIAFAE)

akta.pro secondary industries

Group Variable Universal Life (GVUL) (FSAIADAD), Self-Funded (ASO) Group Health Plans & Stop-Loss (FSAIAFAB), Group HMO Plans (FSAIAFAK)

Keywords

• Global insurance services
• Life and casualty insurance
• Asset management services
• Wealth management solutions
• Employee benefits insurance

Headquarters

HQ city

Trieste

HQ country

Italy

HQ region

Europe

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain, Others

Revenue model

1. Insurance Premiums (Life and P&C): Generali collects recurring and single premiums across Life (€61,943 million in FY25) and Property & Casualty (€36,181 million in FY25), generating €98,124 million in gross written premiums in 2025. P&C combined ratio was 92.6% in FY25.
2. Asset & Wealth Management Fees: Asset and Wealth Management generated €324 million in Q1 2026 operating result (+15.5% YoY). Generali manages €900 billion in AUM (FY25) across its integrated insurance and asset management platform, including private markets, real assets, and unit-linked funds.
3. Assistance, Travel Insurance and Employee Benefits: Under the Redion unified platform, Generali generates €5.8 billion in annual business volume from combined Europ Assistance and Generali Employee Benefits, serving multinational corporations, global travel companies, and financial institutions across 190+ countries.
4. Cybersecurity and Identity Protection Services (Iris): Generali's B2B2C subsidiary Iris Powered by Generali monetizes identity and cyber protection services for Fortune 100 companies and partners globally, including proprietary research such as the State of Scams USA 2025 report.
5. Insurance Solutions with ESG Components: Generali collected €25,193 million in gross direct written premiums from insurance solutions with ESG components in 2024 (CAGR +12.3% vs 2021), combining social (€22,373 million) and environmental (€2,820 million) sphere products.

Pricing tiers

Go-to-market motion4 records

Distribution channels8 records

Marketing channels10 records

Core offering

Generali Group is a global integrated insurance and asset management provider. Its core offering spans Life insurance (€61,943 million in FY25 gross written premiums) and Property & Casualty insurance (€36,181 million in FY25), reaching 75 million customers across more than 50 countries through 163,000 advisors. The Group also delivers multinational corporate insurance through Generali Global Corporate & Commercial (GC&C), travel insurance and employee benefits via the Redion platform in 190+ countries, €900 billion of assets under management through Generali Asset Management, and identity/cyber protection services through Iris Powered by Generali.

Differentiator

Problem solved

Functional benefit

Brands

• Redion: New global Care platform brand launched May 2026, combining Europ Assistance and Generali Employee Benefits under a unified identity. World #1 in employee benefits and #2 in assistance and travel insurance.
• Europ Assistance
• Generali Employee Benefits (GEB)
• Generali Asset Management (GenAM)
• Generali Deutschland
• Generali Central Life Insurance
• Generali Central Insurance
• Liberty Seguros
• RedClick
• Generali Global Corporate & Commercial (GC&C)
• Iris Powered by Generali
• Generali Global Assistance
• GMMI
• Trip Mate
• Banca Generali
• Alleanza Assicurazioni
• Sosteneo Energy Transition Fund
• Generali France

Products and services

• Life Insurance Life insurance products (savings, protection, unit-linked, pension) for individuals and families. FY2025 Life gross written premiums were €61,943 million (+1.4% YoY), part of €98,124 million total group gross written premiums.
• Property and Casualty (P&C) Insurance Property and casualty insurance including motor, home, and accident for retail customers. FY2025 P&C gross written premiums were €36,181 million (+7.6% YoY) with a 92.6% combined ratio.
• Multinational Corporate Insurance (Generali Global Corporate & Commercial) Multinational property, casualty, liability, marine, aviation, multinational pooling, and captive insurance solutions for large enterprises and multinational corporates across more than 180 countries. The Multinational and Captive segment accounts for nearly 30% of GC&C gross written premiums.
• Asset Management (Generali Asset Management) Asset management services for institutional, pension and retail clients including private markets, real assets, and unit-linked funds. Generali manages €900 billion AUM (FY25); Asset & Wealth Management generated €324 million in Q1 2026 operating result (+15.5% YoY).
• Wealth Management (Banca Generali)

Quantifiable outcome

• €8,004m operating result (+9.7% YoY) and €4,315m adjusted net result (+14.5% YoY) in FY2025
• +7 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability4 records

Feature7 records

Partnerships

21 partnerships are on record, tiered minor, flagship and core.

• Star Capital Finance (Vendo Park JV)minorStrategic or Co-development Partner · 24 June 2026Generali and Star Capital Finance formed a joint venture to acquire a six-property retail park portfolio operating under the Vendo Park brand from Patron Capital and Trei Real Estate, valued at approximately EUR 110 million.
• Swiss Life Global Solutions (Swiss Life Network)flagshipStrategic or Co-development Partner · 10 February 2026Generali signed a binding agreement to acquire Swiss Life Network and entered a long-term commercial partnership with Swiss Life Global Solutions, creating a combined employee benefits network managing over €3 billion in premiums across 130 countries with nearly 200 local partners. Folded into Generali Care under the Redion brand.
• Liberty Mutual (Liberty Seguros)flagshipStrategic or Co-development Partner · 15 June 2023Generali completed the €2.3 billion all-cash acquisition of Liberty Seguros (announced June 2023, closed January 2024), the Group's largest acquisition in over a decade. The deal strengthens Generali's P&C insurance market position across Spain, Portugal, Ireland, and Northern Ireland, boosting economies of scale and digital capabilities.
• Central Bank of IndiaflagshipStrategic or Co-development Partner · 30 March 2022Generali Central Life Insurance and Generali Central Insurance operate as 74:26 and 74.82:25.18 joint ventures between Generali and Central Bank of India, giving access to over 4,500 bank branches. Generali Central Life achieved ₹964 crore first-year premium in FY26 with 102% YoY growth.
• UniCredit (potential MPS partnership)flagshipStrategic or Co-development PartnerGenerali expressed interest in replacing AXA as the asset management partner for Monte dei Paschi di Siena (MPS), with partnership ending 2027. UniCredit already holds 8.7% in Generali (becoming the third-largest shareholder), and the two have a current partnership in Central Eastern Europe.
• AnthropiccoreTechnology or IntegrationGenerali Group is an early enterprise customer of Anthropic in Italy, with the company opening its sixth European office in Milan in May 2026. Partnership supports Generali's responsible AI adoption strategy alongside other major Italian enterprises.
• Capgemini (AGORA platform)coreImplementation/ SI/ Consulting PartnerGenerali GC&C partnered with Capgemini to implement AGORA, a cloud-native SaaS underwriting solution built on Microsoft technology, replacing legacy systems. Delivered 80% faster underwriting, 75% lower support costs, 60% lower licensing costs. Companies are exploring migrating additional processes.
• Clearwater AnalyticscoreTechnology or IntegrationMulti-year partnership with Generali Deutschland AG to manage its €40 billion unit-linked fund (ULF) life insurance business across four subsidiaries, consolidating portfolio management, order execution, and reconciliation; DORA-compliant.
• Intermap Technologies (Aquarius)coreTechnology or IntegrationGenerali expanded its partnership with Intermap Technologies to deploy the Aquarius Risk Management & Analytics solution in Poland, Hungary, and Slovenia, providing high-resolution 3D terrain data and peril analytics for underwriting, accumulation oversight, and claims response.
• European Centre for Medium-Range Weather Forecasts (ECMWF)coreStrategic or Co-development PartnerGenerali formalized a Memorandum of Understanding with ECMWF to expand use of quality-assured climate information across Europe, pairing ECMWF's Copernicus climate and atmospheric services with Generali's Group Climate Hub to support climate risk resilience.
• Microsoft (Copilot Studio, Azure OpenAI)coreTechnology or IntegrationGenerali France has built more than 50 agents using Microsoft Copilot Studio and Azure OpenAI; Microsoft featured Generali France as a 'Frontier Firm' example in IDC research. Generali is among financial services leaders adopting agentic AI.
• UNDP, BMZ, and ICMIF FoundationflagshipStrategic or Co-development PartnerJoint program for the world's largest inclusive insurance innovation programme, benefiting 250,000 people across 30 countries since its launch in 2023, with 11+ insurance products on the market. Also co-published a parametric insurance report with UNDP in October 2024.
• Italian Cricket Federation (Italian National Cricket Team)coreGTM or Marketing PartnerGenerali announced a sponsorship agreement with the Italian National Cricket Team to support Italy's first-ever appearance at the ICC Men's T20 World Cup 2026 in India and Sri Lanka, building on its long-standing relationship with the federation.
• Hexagon Cup (International Padel Federation / Story10)coreGTM or Marketing PartnerGenerali replaced Alpine as the Hexagon Cup's naming sponsor, supporting the padel tournament held January 28 to February 1 in Madrid. Hexagon Cup announced expansion into a worldwide circuit called the Hexagon World Series.
• EIS (OneSuite platform)coreTechnology or IntegrationRedClick (Generali's Irish commercial brand) deepened its partnership with EIS to leverage the EIS OneSuite platform for delivering connected insurance experiences, with open architecture and rapid product launch capabilities.
• VML (advertising agency)coreGTM or Marketing PartnerGenerali partnered with VML to develop the new global brand platform 'Here.Now.', rolling out across TV, OOH, DOOH, social, digital, cinema, and print in 14+ markets.
• Modern HealthcoreTechnology or IntegrationGenerali Health Solutions selected Modern Health as its exclusive mental health partner (announced July 2024).
• Pacific Green (Sosteneo Energy Transition Fund)minorStrategic or Co-development PartnerGenerali's Sosteneo Energy Transition Fund acquired battery energy storage system (BESS) assets from Pacific Green, supporting Generali's climate transition investments.
• ITC Europe (Insurance Technology Congress)coreGTM or Marketing PartnerGenerali is the industry partner for ITC Europe 2026 Challenge Lab in Barcelona focused on 'AI Liability: Insuring Intelligence at Scale'; sponsors startup competition in AI-driven risk management.
• Sycomore Asset ManagementcoreStrategic or Co-development PartnerGenerali is a shareholder of Sycomore AM, which surpassed €10 billion AUM at the start of Q2 2026, supported by Generali's distribution network. AUM grew from €7.6 billion (end-2024) to €10 billion+.
• BPCE (Natixis Investment Managers)flagshipStrategic or Co-development PartnerGenerali is pursuing a partnership with French bank BPCE's asset management arm Natixis to form Europe's second-largest investment firm. Deal expected to be formalised summer 2025/early 2026; Generali will retain investment decision-making authority and not cut its stake.

Scale indicators13 records

Recent moves8 records

Expansion highlights8 records

Direct peers

• Allianz: Global integrated insurance and asset management group with comparable scale in P&C, life, and asset management; directly competes with Generali in European retail, corporate, and asset management markets.
• AXA: Global insurance leader with strong positions in P&C, life, and health; directly competes with Generali across continental European markets, particularly France and Belgium, and in asset management.
• Zurich Insurance Group: Global insurer competing with Generali in European P&C, multinational corporate, and life; notably acquiring Generali's Irish RedClick operations, signaling direct competitive overlap.
• Aviva: UK-headquartered insurance and asset management group with strong European life and pensions franchise; competes with Generali in UK, Ireland and European life markets.
• CNP Assurances: Major French personal insurance and asset management group with bancassurance model comparable to Generali's; direct competitor in European life insurance and savings.
• Mapfre: Spanish-headquartered global insurer with strong Iberian and Latin American P&C presence; directly competes with Generali's Liberty Seguros franchise in Spain and Portugal.
• Unipol Gruppo: Leading Italian insurance group; directly competes with Generali in the Italian P&C and life markets and is a natural domestic comparable.

Broad incumbents

• Munich Re: World's largest reinsurer and a major primary insurer (ERGO); overlaps with Generali in P&C, reinsurance, and increasingly in digital insurance initiatives.
• Swiss Re: Major reinsurer with growing direct insurance and asset management arms; comparable to Generali Re and large corporate P&C activities, and partner/competitor in the European market.

Regional players

• Poste Italiane (Poste Vita): Italian bancassurance-led life and pensions provider via Poste Vita; competes with Generali in Italian life insurance and savings distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat9 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/generali
• Xx.com/generali

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries21 records

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A13 records

Investments13 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Generali Group