Chairman of Generali Group discusses the Financial Industry's Solidity in Spite of Crisis
In discussing the theme of organic growth, the chairman of Generali group, Mr Sironi, goes in depth in describing the structure and positioning of the group within both the insurance and asset management markets. Much of the speculation surrounding the financial market is tied to the same macro themes affecting the economy as a whole: inflation, war, health and resource crisis. We are given a clear picture of why a group as big as Generali, that grounds its core retail in SMEs and households reaching 67 million clients mainly in continental Europe, is able to adjust and manage these fluctuations without losing but projecting an upward trend. It is important when looking at these elements to see both sides of the coin as stated by Mr Sironi, inflation can be a good thing for whoever has a debt or liability including the government, and much less for insurance market rates and premiums. Sironi makes a point to describe the insurance industry as more “resilient” than other industries, like banking, and even in discussing elements of crisis the key element is risk management and the ability to leverage a balance of assets and liabilities.