Caltagirone led a group of rebel Generali investors who a year ago challenged the board's decision to hand a new term to CEO Philippe Donnet. They proposed an alternative candidate for the job but lost out in the April 2022 shareholder vote.
At the time, Caltagirone, who gained three seats on Generali's 13-strong board, said he would continue to seek reform, adding that foreign investors who had backed Donnet might not have fully grasped the need to revamp the insurer.
On Friday, last year's accounts gained the support of around 90% of shareholders who voted at Friday's annual general meeting, while 9.9% of voters abstained, Generali's Chairman Andrea Sironi said.
Details of shareholders who voted against will only become available with publication of the AGM's minutes.
Two sources with knowledge of the situation said that Caltagirone had abstained.
Generali posted its best operating profit ever in 2022 and net profit rose 2.3% to 2.9 billion euros ($3.2 billion) despite a 154-million-euro hit from its Russian investments.
In April last year, at the height of the shareholder clash, the 2021 accoounts got around 85% of AGM votes.
Caltagirone, who holds around 6% of Generali, last year had the backing of late billionaire Leonardo Del Vecchio, whose Delfin holding company owns 9.8% of Generali.
Italy's Benetton family, with a 4.8% stake, also challenged Donnet who had the support of Generali's top shareholder Mediobanca, which holds 13% of the insurer. ($1 = 0.9102 euros)
(Reporting by Gianluca Semeraro and Stefano Bernabei, editing by Valentina Za and Emelia Sithole-Matarise)
