Generali, Market Focus Remains High on Potential UniCredit Deal

(Alliance News) - Market attention on Generali remains high following rumors of a possible meeting between UniCredit CEO Andrea Orcel and the head of the Trieste-based group, Philippe Donnet. Despite denials from UniCredit, which has entered a black period, and no comments from Trieste, the matter continues to draw interest, as reported by Il Corriere della Sera on Tuesday.

Speculation about the involvement of Intesa Sanpaolo, reignited by La Stampa, has instead been ruled out by Messina.

According to the newspaper, the market is focusing instead on a potential strengthening of ties between Generali and UniCredit, which holds over 5% of the Lion, both in terms of commercial partnerships in Central and Eastern Europe and, potentially, in asset management.

After halting its project with Natixis, Generali could consider new opportunities in the domestic market, while UniCredit is working to build its own wealth management hub in anticipation of the end of its partnership with Amundi in 2027.

According to Equita, an agreement would have a solid industrial rationale, strengthening Generali Investments and assets under management. Mediobanca also highlights that, thanks to the Danish compromise, the deal could free up excess capital, giving Generali a competitive advantage over other European insurers.

By Claudia Cavaliere, Alliance News reporter

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