Allianz finance chief returning to Generali after 26 years

New insurance division aimed at simplifying group’s organisational model

Allianz finance chief returning to Generali after 26 years

Insurance News

By Terry Gangcuangco

Allianz chief financial officer Giulio Terzariol, who trained at Generali for two years before he joined the Munich-headquartered insurer in 1998, is returning to the Italian giant to lead its newly created insurance division.

Appointed as Generali’s first-ever insurance chief executive, Terzariol is making his comeback in January 2024. As previously reported, he is leaving Allianz to pursue a career opportunity in his home country.

In an emailed release, Generali said Terzariol will have oversight of the activities of the CEOs of all insurance business units within Generali. These are:

  • Italy
  • DACH (Germany, Austria, and Switzerland)
  • France & global business activities
  • International (including Mediterranean & Latin America, Asia, and Central and Eastern Europe)

“The creation of the new division further enhances coordination, effectiveness, and strategic alignment across geographies, streamlining and simplifying the group organisational model and contributing to the achievement of the objectives of the strategic plan Lifetime Partner 24: Driving Growth,” Generali highlighted.

As part of his appointment, Terzariol will become a member of Generali’s group management committee. He will report to group chief executive Philippe Donnet.

“We are proud to welcome Giulio Terzariol as CEO insurance at Generali,” Donnet commented. “We will benefit from the wealth of experience that Giulio is bringing to the group, leading teams in different countries across the world.

“It is an exciting time for Generali, as demonstrated by the success of our strategy, strong financial position, and profitable growth. I am confident that with the addition of Giulio to our leadership team, recently recognised by the market as the best in Europe, we will continue to strengthen our position in the insurance sector.”

An alumnus of Bocconi University Milan, Terzariol started his career in insurance at Generali Versicherung in Munich and Vienna.

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