Generali’s De Courtois, Ryan to Leave in Top Management Overhaul

Assicurazioni Generali SpA’s general manager and chief investment officer are set to leave as part of Chief Executive Officer Philippe Donnet’s overhaul of the Italian insurer’s top ranks.

The departures of Frederic De Courtois and Timothy Ryan may be confirmed at a board meeting called for Wednesday, people with knowledge of the matter said, asking to not be named because the discussions are private.

A spokesman for Generali declined to comment. Neither De Courtois nor Ryan were immediately available for comment.

Donnet, 60, will present a reorganization plan to the board on Wednesday to improve control of key businesses and speed up growth, the people said. He is seeking to accelerate the company’s digital transformation, integrate the management of insurance portfolios and boost the asset management business, people familiar with the matter told Bloomberg earlier this month.

Generali in November confirmed its three-year strategy and financial targets for this year, even as impairments from the Covid-19 crisis and an asset sale caused net income to plummet.

©2021 Bloomberg L.P.

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