After Franceco Gaetano Caltagirone and after Leonardo Del Vecchio, the Benettons also bet on Generali and take the capital of the first Italian insurance company.
After the latest investments, Edizione – the holding company of the Ponzano Veneto family, which already held 3% of Leone – holds 4% of Generali and, according to rumors collected by the Sole 24 Ore, does not hide its intention to achieve, even if not in the very short term, 5% of the insurance group.
The Benettons believe in Generali and in their management headed by CEO Philippe Donnet and invest in the company, even if they do not think of joining the Leone board which will be renewed at the next assembly in Trieste and which will move in line with the outgoing one . This does not exclude that, while not claiming direct representation on the new board, the Benettons are discreetly consulted on the confirmation of Donnet at the helm of Generali, on the probable permanence of Gabriele Galateri di Genola as president and on the composition of the entire board.
The purpose of the Benettons is to diversify financial investments and in doing so they strengthen the structure of Italian private individuals in Generali which reaches almost 17% but which rises to 30% if the shares of the Caltagirone, Del Vecchio, De Agostini and the same Benetton adds the largest stake in Leone which is still held by Mediobanca with 13%.
About a third of the capital of the Lion is therefore in Italian hands and this reinvigorates one of the truly strategic assets of our country, often prey to foreign investors even in recent times. An operation all the more important if one considers that Generali holds a significant portion of our government bonds in its portfolio and that a large part of Italian household savings pass through Generali through mutual funds, asset management and various types of policies that the Leo manages.
