Generali Revamps Organizational Structure

Italian insurance business Assicurazioni Generali (ARZGY) on Wednesday announced a new group organizational structure. The new organizational structure is designed to fully support the priorities of the strategic plan Lifetime Partner 24 Driving Growth.

The organizational revamp aims to reinforce the role of steering and coordination of the Group Head Office towards all the Business Units. It also aims to enhance operational efficiency, accelerate the digital transformation and to further embed sustainability into the core business. The change seeks to redefine the organizational and geographical oversight of markets and multi-country lines of business to facilitate coordination and operating synergies.

The company also announced organizational changes effective September 2022 as well as changes to the Group Management Committee (GMC). A new Business Unit has been created, including Germany, Austria and Switzerland. The Business Unit International would be extending its perimeter to the Eastern European countries.

Shares of Assicurazioni Generali closed Wednesday's trading at $8.15, down $0.03 or 0.42 percent from the previous close.

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