Generali Investments and Generali IARD carry-out first market transaction based on blockchain infrastructure
Generali Investments - through Generali Insurance Asset Management(1), on the behalf of the French company Generali IARD - has purchased on the secondary market security tokens of the digitally native bond issued by the European Investment Bank (EIB) in April 2021 (with Société Générale as Joint lead Manager). The transaction was performed over the blockchain infrastructure of Ethereum through the Société Générale-Forge solution. Transaction size is 0.5 million euros.
This is the first market transaction using the public Blockchain performed by the Generali Group and among the first experiments in Europe.
The initiative reflects Generali Investments’ efforts into testing, in a real and concrete investment environment, the new emerging technologies such as Blockchain and digital assets, which have a huge potential to radically transform the asset management processes. Generali Investments strongly believes that the digitalization of capital markets may bring benefits to market participants in the coming years, better market transparency, as well as a much faster settlement process.
Carlo Trabattoni, CEO Generali Asset & Wealth Management commented: “Innovation for Generali Investments is a strategic pillar of growth as it has the power to improve the way we serve our clients and to transform all our business processes and investments activities. Experimenting new technologies like Blockchain is crucial to gain a strategic knowledge on how the asset management industry could benefit from the tech-revolution. We are thrilled to be among the first European players in this field”.
Jean-Laurent Granier, CEO of Generali France, commented: “This transaction is part of our innovation journey. As institutional investor, we want to accelerate in this field experimenting new innovative technologies, in order to get ready to invest into the future new ecosystems”.
Société Générale - Forge, the Digital Asset branch of Société Générale is the entity who has performed the highest number of real-world transactions at this point in time (more than 15), showing that security tokens based on public blockchains are going mainstream. Riccardo Terzolo, Head of Global Markets Sales Italy at Société Générale commented: “We are pleased to have accompanied the Generali group on this transaction. Innovation is at the heart of our strategy and the partnership with compliant and client-oriented fintech is a key factor of success in the development of digital-based markets, together with the development of new products & services for our clients”.
Generali Investments is a commercial brand including Generali Investments Partners S.p.A. Società di gestione del risparmio, Generali Insurance Asset Management S.p.A. Società di gestione del risparmio, Generali Investments Luxembourg S.A. and Generali Investments Holding S.p.A., part of the Generali Group, which was established in 1831 in Trieste as Assicurazioni Generali Austro-Italiche and is one of the leaders in the insurance and asset management industries. With about €583.4 billion in assets (as at December 31, 2021) and over 1,200 investment professionals, Generali Investments is an ecosystem of asset management firms operating in multiple countries, delivering a portfolio of specialist capabilities. Every firm in the ecosystem is supported by Generali and able to innovate and grow with autonomy, while developing sustainable and innovative solutions. Generali Investments is part of the Generali Asset &Wealth Management Business Unit which gathers the Group’s main companies operating in asset management and wealth management.
Generali France is one of the leading insurers and asset management providers in France, with € 15.5 billion in gross written premiums in 2021, providing a full range of insurance solutions – health, welfare, assistance, property & casualty - savings products and asset management services to over 7.8 million customers. Established in France since 1832, Generali France relies on the know-how and expertise of its 9,000 employees, general agents and agency employees as well as its networks of brokers and intermediaries. Its ambition is to be the Lifetime Partner to its customers and distributors. Generali France is committed to put sustainability at the heart of its strategy with the ambition to be a responsible insurer, investor, employer and actor - in particular through its The Human Safety Net foundation.
Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in 50 countries in the world, with a total premium income of € 75.8 billion in 2021. With more than 75,000 employees serving 67 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. At the heart of Generali’s strategy is its Lifetime Partner commitment to customers, achieved through innovative and personalised solutions, best-in-class customer experience and its digitalised global distribution capabilities. The Group has fully embedded sustainability into all strategic choices, with the aim to create value for all stakeholders while building a fairer and more resilient society.
(1) The full name of the company is Generali Insurance Asset Management S.p.A. Società di gestione del risparmio, part of Generali Investments.