Generali launches Fenice 190, a five-year € 3.5 billion plan to support the sustainable recovery in Europe and the real economy
→ Fenice 190 is the initiative to launch the 190th anniversary of Assicurazioni Generali, founded in Trieste in 1831
→ Over € 1 billion has already been allocated through 10 investment funds focused on infrastructure, innovation and digitalization, SMEs, green housing, health care facilities and education
Founded in Trieste on 26th December 1831, Generali turns 190. This historic anniversary will be celebrated in 2021 with a series of initiatives for employees, agents, customers and the communities in which the Group operates. To mark this occasion and leave a tangible and lasting recognition of the bond between the Company and the regions where it was born and has prospered, Generali announces Fenice 190, a € 3.5 billion investment plan to support the recovery of the European economies impacted by Covid-19, starting in Italy, France and Germany and to then target all of European countries in which Generali operates throughout the five years of the plan.
Fenice 190 will make the extraordinary initiatives launched in 2020 to tackle the effects of the pandemic permanent, which included investments in support of SMEs and the real economy already surpassing the established objective of € 1 billion. To add to this initial amount, Generali is pledging an annual commitment of € 500 million per year, over the next 5 years, for sustainable growth through international investment funds focusing on infrastructure, innovation and digitalization, SMEs, green housing, health care facilities and education.
Generali Group CEO, Philippe Donnet, said: “Generali is one of the few companies in the world that can boast such a long history. It possesses an extraordinary wealth of knowledge and experience, thanks to which the Group is able to face the challenges of today while contributing to a better future for the communities in which it operates, both as an insurer and a social innovator. The 190th anniversary falls in a decisive year in which we must overcome the most serious global crisis of the post-war era and lay down the foundations for a wide-scale global recovery. With Fenice 190, we want to be a leader in this journey, leaving a concrete legacy for the future, with significant support for the most innovative, sustainable and strategic sectors for the restart of the European economy, while at the same time encouraging the inclusion of those most heavily impacted by the crisis.”
The Fenice 190 plan is implemented through the Generali Investments multi-boutique platform and is open to third-party funds and institutional investors as well as all companies of the Group, that can participate in investment allocation based on their own objectives. The selection of initiatives is guided by an investment committee of the Asset & Wealth Management Business Unit, led by CEO Carlo Trabattoni, with experts in real assets, sustainability, private markets, credit and equity. The CEO of Generali Real Estate, Aldo Mazzocco, is in charge of the committee which uses an approach based on compliance with the 17 United Nations Sustainable Development Goals (SDGs) and the specific objective to generate a positive impact on the economic recovery and the real economy in Europe.
To date, ten investment opportunities have already been identified for a multifaceted commitment of € 1.05 billion, ranging from support to European SMEs, green housing and infrastructure with a particular focus on digital, health and energy transition that share a strong focus on environmental and social sustainability.