Generali Group announced an important evolution in its organizational structure, reinforcing its strategic focus on the successful delivery of the “Lifetime Partner 27: Driving Excellence” plan and further strengthening governance across its core businesses, with the appointment of Giulio Terzariol as Direttore Generale  - Group Deputy CEO.

The “Direttore Generale” position is defined by Generali’s Articles of Associations, pursuant to articles 32.2 and 38.1. Giulio Terzariol has been assigned by the Board of Directors the management of the Group’s insurance business and oversight of Banca Generali and these delegated responsibilities will be exercised in full alignment with the directives of the Group CEO.

The appointment will become effective upon completion of the customary Fit & Proper assessment by IVASS, a process that is usually completed within 90 days. The CEO Insurance role will cease to exist as soon as Mr Terzariol commences his new responsibility.

Generali Group CEO, Philippe Donnet, said: “The successful achievement of the goals of our ‘Lifetime Partner 27: Driving Excellence’ plan is Generali’s top priority and, consequently, the organization of the Group evolves in line with this ambition. In his new role Giulio will lead the insurance business and will oversee Banca Generali. His appointment confirms Generali’s ability to build, over the years, one of the best management teams in the global insurance and asset management sector. I am confident that the new organizational structure, together with the continued commitment of our colleagues and advisors, will further strengthen Generali’s leadership and ensure the success of the strategic plan presented to the market this year."

Giulio Terzariol joined Generali in January 2024 as CEO Insurance. He previously spent 25 years at Allianz SE, where he held several senior positions, including Group CFO for six years (2017–2023) and Head of Group Planning and Controlling (2016–2017). Earlier, he served as CFO of Allianz Life USA (from 2008) and Regional CFO for Allianz Asia Pacific in Singapore (2005–2007), after various roles in Group Planning and Controlling.

Terzariol began his insurance career at Generali in 1995 as an International Trainee, working in Munich and Vienna. He holds a degree in Business Administration from Bocconi University, Milan.