Latin America & Greece

Latin America & Greece comprehends the following Countries: Argentina, Brazil, Chile, Ecuador, Greece.

Argentina, where Generali represents the third largest player in terms of premiums, is the main South American market for the Group and is characterized by a historically elevated rate of inflation and by high volatility.

In this context, the Group implemented some best practices, investing in digital transformation projects based on business needs, which enabled the Argentinian company to stand out in terms of service quality and innovation.

Generali also operates in Brazil, where, after several years of loss related to the motor portfolio and related restructuring, Generali recorded satisfactory recovery. The successful implementation of a recovery plan allowed the company to return to being profitable as early as 2022, a trend then confirmed in 2023 and further consolidated in 2024.

Focused on Life business, and in particular on the protection line, the company benefited from a significant increase in revenues, a stable loss ratio and a strong investment result.

In Chile, Generali operates through AFP PlanVital, a company active in the management of pension and savings funds. PlanVital has 1.6 million active customers, 0.2 million pensioners and total assets under management of around € 10.5 billion. In addition to managing mandatory pension contributions, PlanVital sells voluntary savings and pension products (mainly through direct channels), providing financial advice for savings and pension purposes.

Generali Ecuador was founded in 1940 becoming the first insurance company in the country. Over this 80+ years trajectory, protecting people and assets has been a great responsibility and a top priority for the company and implied a constant evolution.

The Company stepped into a transformation path based on a customer centric approach. A key objective was to develop a greater local presence based on operational optimization, digital transformation and innovation throughout the implementation of easy-access channels for business lines such as Life, P&C and Motor paralleled to specialized solutions in B2B2C models, while keeping intact the commitment with customers, suppliers and business partners to become a Lifetime Partner.

In Greece, the Group acquired the company AXA Insurance in 2021, whose integration plan was successfully completed in 2024. The company has continued to show growth in all sectors, showing dynamic development for another year: total gross written premiums reached € 549 million, for an increase of 8.2% compared to the end of 2023.