Italian insurer Generali has opened a representative office in Brussels to boost its public affairs activities with the European Union.
Generali said it aims to represent its business priorities while, at the same time, playing an increasingly active corporate citizenship role in order to contribute to sustainable recovery and the European Green Deal.
“Strengthening our presence in Brussels will enable Generali to be even more actively involved in the EU’s key strategic issues,” said Generali Group CEO Philippe Donnet in a statement.
The European capital is where decisions that will determine the future of the insurance sector will come from, including Solvency II, sustainability regulations and how economies will manage unforeseen crises such as COVID-19, the Milan-based company indicated.
“We want to give our contribution to the definition of these standards that will effective one of the world’s most significant economies and the lives of over 500 million citizens,” added Donnet.
The insurance sector can also help to manage risks from unforeseen crises such as COVID-19, by transferring funds to individuals and businesses and supporting economic recovery by allocating capital to infrastructure investments and sustainable projects, said Generali.
Donnet has proposed a multi-level international pandemic fund – or a Pandemic Risk Pool – that would bring together European institutions, member states and the leading insurance and reinsurance companies to create a public-private partnership and the means to protect against future risks.
Another reason for increased access is that insurers can support the EU’s ambition to make Europe the first climate-neutral continent, explained Generali, noting that it is essential to ensure the right legislative framework to stimulate investment in long-term sustainable projects.
The Brussels office is based at the premises of Insurance Europe, a Generali-owned building, and will report to Group International Affairs, under the leadership of Fabio Marchetti.
*This story ran previously in our sister publication Insurance Journal.