Generali, one of the world's top 500 companies, was founded in 1831 as a multinational group with an international network and a major construction and installation underwriting company, providing major reinsurer services for many large-scale engineering projects in China
Generali was founded in Trieste in December 1831 as Generali, a royal Austrian-Italian franchise. In 1848, it was officially renamed Generali Insurance Company. In 1882, Generali Insurance Group was founded. Generali is made up of 614 companies (167 of which are integrated conglomerates), with Generali (Italy's largest insurance company) headquartered in Trieste directly or indirectly controlling its subsidiaries.
Generali operates insurance in 50 markets on all continents through 120 local locations (group holding companies or banks) and its own overseas offices. Generali is the fourth largest insurance group in Europe in terms of the number of insurance types. In terms of turnover, Generali Group has become one of the world's top 10 insurance groups. The entire business network of the group is placed under the unified management of the group company, and the group company formulates coordination policies and gives each subordinate company a wide range of independent management authority.
Since its establishment, Generali has been organized in two parts: First, the Generali Group headquarters in Trieste, which is responsible for global business development and the development of coordinated policies within the group. 2. The Generali Group, located in Morino Venedo, is responsible for the Italian insurance market. Generali's business is divided into two main divisions: property insurance operated by Direzione per l'Italia, a company based in Mogliano Veneto, and life insurance, which was merged into Generali in January 2001. The company's business operations are divided into five main sections: sales services, marketing services, Generali economic management organization, public relations and network building services, and budgeting and reporting.
With operations in 40 countries on five continents, Generali is the third largest insurance group in Europe and the number one in life insurance. With more than 61,500 employees worldwide, Generali is a truly global group with an international network. In 2005, Generali's premium income reached 62.8 billion euros. In the 2005 Fortune Global 500 list, Generali ranked 21st. Over the past few years, Generali has strengthened its position as the world's leading insurance group. In key markets in Asia, Generali re-established offices and branches, with life and non-life practices in China, Japan, the Philippines, Thailand and India; Among them, Zhongyi Life Insurance Co., Ltd. is a joint venture life insurance company established in Guangzhou in January 2002 with the approval of the China Insurance Regulatory Commission, and then relocated from Guangzhou to Beijing in January 2006 with approval. As of the first half of this year, GCL has invested a total of RMB340 million in Guangdong Province, with a balance of RMB412 million in RMB and foreign exchange assets in the province.
Generali Group has always focused on its business development in Asia. Today, Generali has branches in Japan, Hong Kong, Singapore and Dubai. Asia is a potentially important region for the further development of the Group's insurance business. Generali has made it its mission to be international since its inception and is increasingly interested in studying the possibilities offered by emerging markets such as China. In fact, Generali entered China as early as 1910. At that time, it set up an agency in Shanghai that specialized in underwriting fire and marine insurance. Then, in 1924, Generali gradually expanded its underwriting business beyond Shanghai, establishing branches in Beijing, Tianjin, Guangdong, and Hebei.
