SCHIAVETTO, GENERALI CEE: COVID-19 has already shown a more serious impact during the second half of March than that registered at the end of 2008

14 July 2020 — Andrei Victor
Coronavirus crisis' impact by the end of March was already higher than that registered at the end of 2008, many observers foreseeing that the pandemic might cause the most serious crisis since the 1930s, stated Carlo SCHIAVETTO, CFO at GENERALI CEE Holding for the Progetto Repubblica Ceca magazine.

"The financial statements of GENERALI Group, along with those of the companies in the Austrian and CEE region in particular, have nevertheless demonstrated their viability by showing excellent levels of solvency even in the aforementioned situations of market stress.

However, what concerns me about the future is the impact, not yet precisely quantifiable, that our technical result, originating mainly from the insurance business, will undergo as a consequence of the economic crisis that the economies of our Region will experience in the following months with falls in GDP, expected to be between 5% and 10% for the year 2020".

Speaking about the current situationand how can be it be transformed in aperiod of new opportunities, SCHIAVETTO mentioned three key elements: speed in adaptability, innovation and digitization:

"Without a doubt, the Covid-19 era has profoundly altered the reality we were used to operating in. We had to adapt to the new rules of the game quickly. Under these new circumstances, we realized that more than ever digitalization and innovation are the crucial elements to focus on. They are the key levers enabling us to deliver on the promise of being the Life-time Partner to our customers. As the working environment changed completely in past months confining us to digital communication, it only proved that digitalization is the future within the HR area as well".

Carlo SCHIAVETTO became Chief Financial Officer of GENERALI CEE on May 1, 2020 responsible for overseeing the financial performance and strategic development of the 13 countries in the entire "Austria, CEE and Russia" area. You can read the full interview on the GENERALI CEE website.

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