Generali closes rep office in Moscow

Since the start of the war in Ukraine, Generali has been closely monitoring the situation and implications for operations and financial markets. As a result, Generali will close its Moscow representative office and has decided to resign from positions held on the board of the Russian insurer Ingosstrakh, in which it holds a minority investment stake of 38.5 percent. Generali, as a result, has no influence on its operations. Europ Assistance, which operates in the country, will also wind down its business.

Generali’s minor exposure to the Russian market in terms of investments and insurance business is also under constant evaluation and fully compliant with all applicable sanctions.