Generali organizational restructuring

Generali has initiated a major organizational restructuring to streamline decision-making and prepare for its 2028–2030 strategic cycle. The plan involves discontinuing the General Manager role and expanding the responsibilities of Group Deputy CEO Giulio Terzariol to include Global Investment Management, Group Operations, Group Marketing & Customer, and Group Security. Additionally, Group Chief Transformation Officer Cécile Paillard will expand her remit to include Sustainability and, beginning in 2027, Insurance M&A.

As part of this reorganization, the company will restructure its international insurance markets into five macro-regions starting January 1, 2027.

In Germany, the company is implementing a location strategy that includes closing offices in Aachen, Nuremberg, and Stuttgart by 2030. This move is expected to result in approximately 800 job losses, representing about 9% of the local workforce. To mitigate the impact, Generali plans to consolidate teams into regional centers in Cologne, Munich, and Karlsruhe, while also utilizing centers in Hamburg and Saarbrücken. Reductions will be managed through voluntary early retirement, natural staff turnover, and other voluntary measures, supported by a job guarantee until the end of 2030.

To enhance competitiveness and profitability, the insurer intends to invest a triple-digit million amount into IT modernization, focusing on digitalization and artificial intelligence.