A five-year EUR 3.5 billion plan for Fenice 190 launched by Generali

25 February 2021 — Alexandra GUZUN
At its 190 th anniversary, Generali launches Fenice 190, a five-year EUR 3.5 billion plan in order to support the sustainable recovery in Europe and the real economy. Over EUR 1 billion has already been allocated through 10 investment funds focused on infrastructure, innovation and digitalization, SMEs, etc.

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. 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."

To mark the 190 years of working 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, an investment plan that will 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 EUR 1 billion. To add to this initial amount, Generali is pledging an annual commitment of EUR 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.

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 EUR 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.

Source: Generali Group

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