Finance
Intesa CEO not concerned by reports of UniCredit-Generali talks
Published by Global Banking and Finance Review
Posted on February 2, 2026
2 min readLast updated: February 2, 2026
Quick Summary
Intesa CEO Carlo Messina is not worried about potential tie-ups between UniCredit and Generali, maintaining Intesa's strong market position.
Intesa CEO Dismisses Concerns Over UniCredit and Generali Talks
Intesa's Position in the Italian Banking Market
MILAN, Feb 2 (Reuters) - Intesa Sanpaolo's dominant position in Italy would not be in danger if reported tie-ups among peers were to materialise, the bank's CEO said on Monday after weekend headlines about UniCredit and Generali.
Concerns Over Rival Consolidation
Addressing analysts after the bank published a strategy through 2029, CEO Carlo Messina said Intesa had no concerns about potential tie-ups between rivals.
Current Partnerships and Stake Changes
Intesa, which controls a fifth of the domestic banking market, has kept out of a consolidation wave in Italy and denied it is looking at the asset management business of Generali, Italy's biggest insurer.
Future Outlook and Strategy
Generali in December dropped a deal to combine its asset management operations with France's Natixis, fuelling speculation in the Italian press that both Intesa and UniCredit could be interested in the business.
Intesa has an in-house asset manager while UniCredit sold its fund business in 2017 to raise capital.
La Stampa daily reported that UniCredit CEO Andrea Orcel would meet Generali CEO Philippe Donnet on Tuesday to restart conversations about potential partnerships.
UniCredit and Generali are already partners in some eastern European markets and Donnet said last April that they could explore further collaboration after UniCredit became an investor in Generali.
However, UniCredit failed to support Donnet in a shareholder vote last April and said in June it would gradually exit Generali's capital.
UniCredit has since cut its stake in Generali to just above 2% from 6.7% and Orcel said in November the bank was "observing the situation" at Generali.
(Reporting by Valentina Za, editing by Cristina Carlevaro and Susan Fenton)
Key Takeaways
- •Intesa CEO dismisses concerns over UniCredit-Generali talks.
- •Intesa maintains strong position in Italian banking market.
- •No interest in Generali's asset management business.
- •UniCredit and Generali explore further partnerships.
- •UniCredit reduces stake in Generali to 2%.
Frequently Asked Questions about Intesa CEO not concerned by reports of UniCredit-Generali talks
1What is asset management?
Asset management is the systematic process of developing, operating, maintaining, and selling assets in a cost-effective manner. It involves managing investments on behalf of clients to achieve specific financial goals.
2What is a partnership in finance?
A partnership in finance refers to a business arrangement where two or more individuals or entities collaborate to manage a business or investment, sharing profits and responsibilities.
3What is insurance?
Insurance is a financial product that provides protection against potential future losses or damages. It involves paying a premium to an insurer in exchange for coverage.
