Generali CEO Eyes Monte dei Paschi and UniCredit Deals
CEO Philippe Donnet said the insurer wants to replace AXA as a partner for Monte dei Paschi. He is also open to expanding deals with UniCredit.
The chief executive of Assicurazioni Generali S.p.A. has expressed a strategic interest in succeeding AXA S.A. as the primary partner for Monte dei Paschi di Siena (MPS). Speaking following the release of full-year financial results in Italy, CEO Philippe Donnet indicated that the insurer is prepared to assist the Tuscan bank in managing its domestic customer savings.
The existing partnership between MPS and AXA is scheduled to conclude in 2027. Donnet highlighted that under the current arrangement, Italian capital is effectively managed in France following the sale of AXA's asset management arm to BNP Paribas S.A..
