Brussels – “We are increasingly investing in the real economy and will continue to do so”. Philippe Donnet, CEO of Generali, is in Brussels to meet with European Commissioner for Financial Services, Savings and Investment Union Maria Luís Albuquerque, who unveiled a “financial literacy” plan yesterday to encourage citizens to invest their savings, which now often lie almost unproductive in bank accounts. However, “this plan does not take into account our sector, and we must work to improve this proposal,” the manager said.
Donnet si feels involved nonetheless and asserts that his group is working to “create productive savings for long-term investments in European priorities, from the green transition to defense.”
The CEO of Generali met with journalists last night during the annual reception held, for the fifth time, at the residence of the Italian Ambassador to Belgium, Federica Favi, to insist on the message that “we work with the Commission on life insurance, which is the best way to attract long-term investment, and we have the best network to do this job.”
However, there is a structural and dimensional need to address. “We need European insurance and financial champions, and for that we need to be united because otherwise we do not have the size to compete,” Donnet explained. “The US market is, I do not know exactly, but about six times bigger than ours, and we need to develop the ability to collaborate with the whole world.” For example, “with a European pension fund we could do much more,” because otherwise there is a risk of being swallowed up “by US or Asian companies. No European country can compete on its own.”
Generali has an impressive European background. We are a leader in insurance and asset management. We believe in Europe, in it being strong and united,” the CEO emphasized.
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