Size and characteristics of the shareholders

As at 31 December 2012, the share capital of Assicurazioni Generali S.p.A., amounted to 1,556,873,283 euros, divided into the same number of ordinary shares with a nominal value of 1 euro each, of which 15,996,870 held by the Parent Company and the other Group companies.

Shareholders of the Parent Company amount to approximately 280,000, of which 73.4% are Italian. Group employees hold a total stake of 0.35% (5,474,936 shares); Italian employees hold the majority stake, equal to 0.29%.

Only six shareholders have a direct and/or indirect (held through a third party, trustees or subsidiaries) stake equal to or more than 2%. Known as the major shareholders, they hold a combined 27.53% interest in the share capital.

Major Shareholders as at 29.03.2013

  • The breakdown of major shareholders has changed compared to 2011: these no longer include the Blackrock Group, while Bank of Italy's stake was sold to Fondo Strategico Italiano, a subsidiary of Cassa Depositi e Prestiti. This latter transaction was conducted in order to prevent any potential conflict of interests which could derive from the governance of the new supervisory body for insurance (IVASS), in which the Top Management of the Bank of Italy participates.

Shareholders by type

  • The decrease in the share held by major shareholders in 2012 can be attributed to the changes in the composition of these shareholders.

 

The shareholders of the Company also include investors who adopt ethical criteria for investment. The main one is the Norwegian Government Pension Fund - Global, which alone holds 1.79% of the share capital of Assicurazioni Generali with 27,414,308 shares, followed by Stichting Pensioenfonds ABP, the Dutch pension fund for employees in the government, public and education sectors, which holds 1,570,363 shares (approximately 0.10% of shares issued). There are also other institutional investors (pension funds and mutual funds) oriented toward a socially responsible investment policy, which invest in the Generali share totalling about 1.20% of the share capital (updated as of October 2012).
The geographical breakdown of "ethical" investors in Generali is as follows: Norway 58%, the Netherlands 16%, USA 12%, France 5%, Sweden 4%, the rest of Europe 2%, the rest of the world 3%.