The Board of Directors of Italy-headquartered global insurer Generali, chaired by Andrea Sironi, has approved a new organisational setup proposed by Philippe Donnet, Group Chief Executive Officer (CEO), as the final phase of the “Lifetime Partner 27: Driving Excellence” strategic plan.
The new structure, effective 2 November, 2026, will expand Giulio Terzariol, Direttore Generale, the Group Deputy CEO’s management responsibilities by reallocating the functions currently reporting to the General Manager, a role that will be discontinued.
The functions added to Terzariol’s remit are Global Investment Management headed by Luca Cetrano, Group Operations headed by David Cis, Group Marketing and Customer headed by Isabelle Conner, and Group Security headed by Remo Marini.
Additionally, Cécile Paillard, the current Group Chief Transformation Officer’s remit has also been expanded to include two areas: Sustainability led by Lucia Silva as Chief Sustainability Officer and Insurance M&A headed by Riccardo Candoni from 1 January, 2027.
There will be two new units established within the same perimeter: Group Insurance & Business Performance led by Santiago Villa, which includes Life & Health, P&C, and Reinsurance segments, and a Special Projects Unit led by Manlio Lostuzzi.
From 1 January, 2027, the insurance geographical markets will be split into five areas, reporting to Terzariol, which are as follows: Western Europe & Latin America led by Jean-Laurent Granier, encompassing France, Spain, Portugal, Switzerland, Latin America, and Greece.
Giancarlo Fancel heads Italy & Global Corporate & Commercial, bringing the governance of the corporate business closer to its largest market and reinforcing commercial focus. Stefan Lehmann will be responsible for Germany, Roberto Leonardi will lead the Asia Region. Austria & Central Eastern Europe will be led by Gregor Pilgram.
Antoine Parisi will lead Redion Group, as the global platform integrating Assistance and Employee Benefits. Gian Maria Mossa will lead Banca Generali, both will report to and continue to be under Terzariol’s oversight.
Effective 1 January, 2027, Laetitia Léonard-Reuter will be appointed CEO of Generali France, subject to approval by the company’s Board of Directors and the relevant supervisory authorities. Gregor Pilgram will be appointed CEO of Generali CEE Holding.
Léonard-Reuter, Pilgram, and Parisi will also join the Group Management Committee from January 2027. The insurer clarified that the governance of the control functions is unchanged. Meanwhile, Cristiano Borean will lead Finance, and People & Organisation will be headed by Monica Alessandra Possa.
Additionally, Simone Bemporad will lead Communications and Public Affairs, and General Counsel will be led by Antonio Cangeri, who will continue to report directly to the Group CEO, and Woody Bradford will lead Generali Investments Holding.
Donnet commented, “The new organisational structure will accelerate the Group’s transformation and drive operational excellence, in line with our ‘Lifetime Partner 27: Driving Excellence’ plan. I am particularly pleased that it draws on our internal talents, among the best in the global market. Developing future leaders has long been our priority, enabling us to respond to innovation and change in insurance and asset management while sustaining the Group’s strong performance.
“This approach underpins Generali’s independence and integrity, essential to serving the best interest of all our stakeholders. I would like to thank Marco for the fundamental role he has played within the Group over these years – first as Chief Operating Officer and then as Country Manager for Italy and subsequently as General Manager – making a substantial contribution to Generali’s development while navigating the market’s many challenges.
“I wish Marco, also on behalf of our Board of Directors and the entire Group, every success for the next steps in his career. We also wish to thank Jaime, who will continue to provide support as a representative on several Group boards, for his long-standing service and the various roles he has held, both internationally and at the Group’s central level, always with great success.”
This reorganisation aims to make the insurer’s coordination and integration “leaner and more effective” between Head Office functions and geographical markets.
