Italian insurance giant Generali is being asked by activist investors to engage with shareholders if it wants to surpass growth hurdles.
A Reuters report cited Leonardo Del Vecchio’s multinational holding corporation Delfin S.à r.l. and philanthropic institution Fondazione CRT as stating jointly: “Delfin and Fondazione CRT are long-term shareholders.
“As such, they firmly believe only an open and constructive dialogue... can allow the insurer to pursue a path of sustainable growth, overcoming issues that affected its competitive positioning in Europe.”
Described as having poured significant resources into Generali, the two activist investors are seeking to be heard in terms of what future they’d like for the Trieste-headquartered insurer.
Documents published by Generali in late January show that Delfin owns 6.62% of Generali’s voting share capital while the foundation owns a 1.71% stake.
Generali, as of writing, has not issued a public statement in response to the call for an open dialogue.
