Allianz CFO headed for Generali to steer insurance coverage industry, Italian media document

MILAN, Sept 29 (Reuters) – Allianz’s (ALVG.DE) Leader Monetary Officer Giulio Terzariol is about to depart his publish on the German team to take a most sensible process at Italy’s greatest insurer Assicurazioni Generali (GASI.MI), two Italian newspapers reported on Friday.

Dailies los angeles Repubblica and Los angeles Stampa reported Terzariol would turn into the pinnacle of the insurance coverage industry of Generali, which additionally has huge asset control operations.

Terzariol will document at once to Leader Government Philippe Donnet, los angeles Repubblica stated, with Los angeles Stampa including the appointment was once anticipated in the following couple of days.

Each Generali and Allianz declined to remark. Terzariol was once no longer instantly to be had for a remark.

Donnet was once reappointed as CEO for the Generali team remaining yr, after surviving a problem from some rebellion home buyers, who puzzled his technique calling for a extra competitive M&A coverage.

The Italian press on the time discussed Terzariol as a conceivable candidate to the CEO function backed by means of the primary rebellion shareholder, Italian buisinessman Francesco Gaetano Caltagirone.

On the other hand, Caltagirone put ahead as an alternative as his CEO candidate a former Generali govt who didn’t safe enough toughen at a shareholder assembly known as to nominate a brand new board.

One by one on Friday, two assets just about the topic stated Allianz’s supervisory board would approve subsequent week extending by means of 3 years the mandate of CEO Oliver Bäte, whose contract is these days set to finish on Sept. 30, 2024 in keeping with the Allianz site.

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