2021 Annual General Meeting

The ordinary and extraordinary Shareholders’ Meeting of Assicurazioni Generali was held yesterday under the chairmanship of Gabriele Galateri di Genola.

In the year of Assicurazioni Generali’s 190^th anniversary, as is tradition, the Annual General Meeting (AGM) has taken place in Trieste, where the Company was founded in 1831. The event was held through live video streaming from the historic Palazzo Berlam, which houses the new Generali Historical Archive, next to Palazzo Carciotti, where the Company’s deed of incorporation was signed.

“It is also the second Shareholders’ Meeting that we have held engaging our Shareholders with a virtual platform. Although the human aspect is certainly sacrificed, tools such as this have allowed us to keep the relation with all our stakeholders alive during the pandemic, while remaining fully operational in compliance with social distancing measures, to protect the health and safety of everyone involved”, affirmed Chairman Galateri in his introductory speech, before handing over to the Group CEO and Group CFO. “We come to the deeper meaning that shapes our mission – which has allowed us, for 190 years, to find the best solutions to be a Lifetime Partner to our customers.”

“Generali is navigating the current unprecedented environment from a position of strength and solidity”, said Group CEO Philippe Donnet. “The results we delivered last year, which we presented in mid-March, are a further confirmation of this and demonstrate the pertinence and resilience of our business model and our strategy. In 2020, we achieved record operating result for the second year running, as well as record-breaking capital generation”, continued Donnet. “All of this allows us to submit for your approval today a dividend of 1.47 Euro per share, which would be split into two tranches.”

“Even in an unprecedented context determined by the pandemic”, confirmed Group CFO Cristiano Borean, “in 2020 Generali confirmed its profitable growth, excellent capital position, and cumulated dividends and remittances in line with targets, which allow us to confirm our full commitment to achieving the financial targets of 'Generali 2021'”. The Group CFO concluded by expressing his gratitude to “all our employees, the sales network, the partners for the resilience, commitment and dedication shown in 2020. At this particular time, I express my personal gratitude to all of them and their families who are the true strength of our Lion.”

The AGM then approved the 2020 Financial Statements, setting forth the distribution of a dividend per share of € 1.47, split into two tranches of € 1.01 and € 0.46, respectively. The Shareholders’ Meeting also approved the Report on the Remuneration Policy and expressed a non-binding positive resolution on the Report on payments.

The AGM then approved the Group Long Term Incentive Plan (LTIP) 2021-2023, the stock plan linked to the mandate of the Managing Director/Group CEO, as well as the amendment of certain articles of the Articles of Association.

For further information, please refer to the press release.