The predators change, but not the prey. Banca Generali is the most sought-after morsel of the Italian banking risk. In just two years, the bank led by Gian Maria Mossa has been the subject of as many as two offers public exchange offers by Mediobanca first and then MPS, not to mention the numerous rumors regarding a possible interest from Unicredit. All of these rumors were enticed by extremely solid industrial and financial rationales.
All offers on Banca Generali
Last 21 August Monte dei Paschi has launched a takeover bid for Banca Generali. which in the CEO's plans, Louis Lovaglio, should, on the one hand, help Siena resist the onslaught of Intesa Sanpaolo, and on the other, allow the Tuscan institution to further expand into wealth management. Last year, It was Mediobanca that launched a takeover bid, which later failed due to the shareholders' meeting's "No" vote, precisely to defend itself from the offer from Monte dei Paschi, which in the meantime had increased its stake in Piazzetta Cuccia to 86,35%. Not only that, Mediobanca had already tried in 2020 and even in that case the operation failed due to the opposition of some of the Lion's major shareholders.
Meanwhile, for months there has been talk of a possible interest from Unicredit, which after selling Fineco in 2019, was studying a possible combination with one of the jewels of Italian asset management.
Banca Generali's numbers
If you look at the bank's numbers, it's not hard to understand the reasons behind all this interest. Over the last thirteen years, that is, since CEO Gian Maria Mossa has been at the helm, assets under management of the institution controlled 50,2% by Generali rose from 25 to 121 billion euros (+384%), while since 2015 profit more than doubled up to 445,8 million in 2025. A figure that in the last 10 years has brought into the coffers of the members, the Lion first and foremost, almost 2 billion in dividends.
And again: from 2013 to today the assets attributable to the private customers increased from 11,9 billion to over 94 billion euros, allowing Banca Generali to establish itself as the third largest player in the sector in Italy, while the average wallet per capita of bankers as of June 30, 2026, amounts to 50 million. In 2016, it was exactly half.
Notable too performance on the stock exchange: in the last six months the stock has gained 28% of its value, rising to 64,4 euros per share, for a capitalization that exceeds 7,5 billion euros. Since the listing, which marks the thirtieth anniversary, the Total Return it exceeded 1700%, compared to 176% for the Ftse Mib.
The future of Banca Generali
Risk permitting, from an industrial perspective, CEO Mossa intends to focus oninsurbanking, accompanied by the partnership with Insurance Alliance which, by 2030, should bring in total collections of 7-8,5 billion, in addition to 40-50 million in additional revenues.
