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    G   IT0000062072

ASSICURAZIONI GENERALI S.P.A.

(G)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 11/29 03:59:54 pm
17.898 EUR   +1.35%
11/26NEWS HIGHLIGHTS : Top Financial Services News of the Day
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Assicurazioni Generali S p A : Generali's top investor ups voting stake ahead of AGM pick of CEO

09/23/2021 | 03:00pm EST
FILE PHOTO: The Generali logo is seen on the company's Tower, designed by Iraqi-British architect Zaha Hadidat, at the Milan's CityLife district

MILAN (Reuters) - Generali's biggest investor Mediobanca said on Thursday it had borrowed shares in Italy's top insurer to secure 17.2% of voting rights, upping the ante in a shareholder tussle over the choice of the next chief executive.

With its 12.9% stake Mediobanca is the single largest shareholder in Generali, followed by Italian billionaires Francesco Gaetano Caltagirone and Leonardo Del Vecchio.

The two tycoons have struck a pact to consult over decisions concerning Generali and people with knowledge of the matter have said they will back a different CEO candidate if Generali's board proposes appointing current boss Philippe Donnet for another mandate.

Generali's board meets on Monday to discuss whether to submit its own slate of nominees, including Donnet, ahead of a general meeting next spring to name new directors.

Caltagirone, a construction magnate, and Del Vecchio, founder of Ray-Ban owner Luxottica, have come to control a combined 12.5% stake in Generali after another investor, Fondazione CRT, last week agreed to join their pact.

Mediobanca said it had borrowed shares equivalent to 4.4% of Generali until at least next year's general meeting.

(Reporting by Valentina Za; Editing by Alex Richardson)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASSICURAZIONI GENERALI S.P.A. 0.79% 17.8 Delayed Quote.24.82%
MEDIOBANCA S.P.A. 1.48% 9.724 Delayed Quote.28.97%
All news about ASSICURAZIONI GENERALI S.P.A.
11/26NEWS HIGHLIGHTS : Top Financial Services News of the Day
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11/19ASSICURAZIONI GENERALI S P A : The Generali Ownership Plan We SHARE honoured at GEO Awards
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More news
Analyst Recommendations on ASSICURAZIONI GENERALI S.P.A.
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Financials
Sales 2021 73 323 M 82 760 M 82 760 M
Net income 2021 2 784 M 3 142 M 3 142 M
Net Debt 2021 3 872 M 4 370 M 4 370 M
P/E ratio 2021 9,95x
Yield 2021 5,96%
Capitalization 28 031 M 31 591 M 31 639 M
EV / Sales 2021 0,44x
EV / Sales 2022 0,42x
Nbr of Employees 71 860
Free-Float 84,4%
Chart ASSICURAZIONI GENERALI S.P.A.
Duration : Period :
Assicurazioni Generali S.p.A. Technical Analysis Chart | G | IT0000062072 | MarketScreener
Technical analysis trends ASSICURAZIONI GENERALI S.P.A.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 17,80 €
Average target price 19,17 €
Spread / Average Target 7,71%
EPS Revisions
Managers and Directors
Philippe Donnet Chief Executive Officer, MD & Executive Director
Cristiano Borean Chief Financial Officer
Gabriele Galateri di Genola Chairman
Jaime Anchústegui Melgarejo Group Chief Operations & Insurance Officer
Maurizio Basso Group Compliance Officer
Sector and Competitors
1st jan.Capi. (M$)
ASSICURAZIONI GENERALI S.P.A.24.82%31 470
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AFLAC INCORPORATED24.96%36 761