Rome threatens intervention in insurance sector ownership

Addressing the annual meeting of the insurance trade organization ANIA, Giorgetti emphasized that the government expects insurers to align their capital allocation with national economic priorities. He argued that the massive volume of savings managed by these firms should be redirected to bolster Italian competitiveness, employment, and long-term growth. The minister also voiced frustration over the industry's recent retreat from Italian government bonds, noting that this decline contradicts the growing appetite for state debt from both retail and international investors.

Generali remains the focal point of the government’s scrutiny. The insurer is currently entangled in a web of shifting stakes involving major players like Intesa Sanpaolo, Delfin, and the Caltagirone group. With Delfin undergoing an internal ownership reshuffle and UniCredit holding a significant 9% stake, the stability of Generali’s shareholder base has become a matter of state concern. While the government holds 'golden powers' to regulate takeovers in the financial sector, critics have increasingly accused Prime Minister Giorgia Meloni’s administration of overstepping into private business affairs, citing previous government resistance to Generali’s asset management expansion plans.