ROME (Reuters) - Generali (BIT:GASI) has appointed Giulio Terzariol to head its newly-created Insurance division, the Trieste-based financial services company said on Monday.
Terzariol, currently chief financial officer at German peer Allianz (ETR:ALVG), will take on the new job at Italy's biggest insurer from the start of 2024, Generali said in a statement.
Allianz on Monday confirmed Terzariol's departure. He will be replaced at the German group by Claire-Marie Coste-Lepoutre.
Terzariol will report directly to Generali CEO Philippe Donnet, and will join the group's management committee, it said, adding that the new 'Insurance' division will integrate all Generali's insurance business units under one roof.
Donnet was reappointed as CEO last year, after surviving a challenge from some rebel domestic investors, who questioned his strategy calling for a more aggressive M&A policy.