Generali launches Fenice 190 to support sustainable recovery from COVID-19
Generali launches Fenice 190 to support sustainable recovery from COVID-19
Generali, one of the largest global insurance and asset management providers, aims to celebrate its historic 190th birth anniversary in 2021 with a series of initiatives for employees, agents, customers, and the communities in which the group operates.
Established in 1831, Generali is present in 50 countries around the world with total premium income of more than €69.7 billion ($85.2 billion) in 2019
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To mark this occasion and leave a tangible and lasting recognition of the bond between the company and the regions where it was born and has prospered, Generali announces Fenice 190, a €3.5 billion ($4.2 billion) investment plan to support the recovery of the European economies impacted by COVID-19, starting in Italy, France, and Germany and to then targeting all European countries in which Generali operates throughout the five years of the plan.
Fenice 190 will make the extraordinary initiatives launched in 2020 to tackle the effects of the pandemic permanent, which included investments in support of small- and medium-sized enterprises (SMEs) and the real economy already surpassing the established objective of €1 billion ($1.2 billion).
| The more than 70,000 employees of Generali will play a leading role in celebrating the milestone of 190 years of the group's history. |
To add to this initial amount, Generali is pledging an annual commitment of €500 million ($611 million) per year, over the next five years, for sustainable growth through international investment funds focusing on infrastructure, innovation, and digitalisation, SMEs, green housing, healthcare facilities, and education.
“Generali is one of the few companies in the world that can boast such a long history. It possesses an extraordinary wealth of knowledge and experience, thanks to which the group is able to face the challenges of today while contributing to a better future for the communities in which it operates, both as an insurer and a social innovator,” said Philippe Donnet, CEO of Generali Group.
“The 190th anniversary falls in a decisive year in which we must overcome the most serious global crisis of the post-war era and lay down the foundations for a wide-scale global recovery. With Fenice 190, we want to be a leader in this journey, leaving a concrete legacy for the future, with significant support for the most innovative, sustainable, and strategic sectors for the restart of the European economy, while at the same time encouraging the inclusion of those most heavily impacted by the crisis.”
The Fenice 190 plan is implemented through the Generali Investments multi-boutique platform and is open to third-party funds and institutional investors as well as all companies of the group, that can participate in investment allocation based on their own objectives.
The selection of initiatives is guided by an investment committee of the Asset & Wealth Management Business Unit, led by CEO Carlo Trabattoni, with experts in real assets, sustainability, private markets, credit, and equity. The CEO of Generali Real Estate, Aldo Mazzocco, is in charge of the committee which uses an approach based on compliance with the 17 United Nations Sustainable Development Goals (SDGs) and the specific objective to generate a positive impact on the economic recovery and the real economy in Europe.
To date, 10 investment opportunities have already been identified for a multifaceted commitment of €1.05 billion ($1.28 billion), ranging from support to European SMEs, green housing, and infrastructure with a particular focus on digital, health, and energy transition that share a strong focus on environmental and social sustainability.
Continuing with the tradition of exploring contemporary issues through the language of advertising posters, Generali will give five young Italian and international artists the task of interpreting five key areas for the group with the “This is Tomorrow” project, creating posters capable of representing reality in a new way.
The more than 70,000 employees of the group will also play a leading role in celebrating the milestone of 190 years of history. Through a global initiative they will be asked to tell their personal “story” of Generali on a dedicated platform, combining personal experience with the company’s rich heritage.
The contest will select the best stories, identifying 190 Lions who will be able to actively participate in Generali’s 190th anniversary initiatives.
On the group’s institutional website, generali.com, a new section dedicated to the anniversary will display the main initiatives as well as a series of editorial content related to the history of Generali.
