Generali withdraws from Russia and offers € 3 million in assistance to support families and children from Ukraine.
At the same time it collects monetary donations from its people all over the world for the same purpose.
This is mentioned in an announcement of the group and specifically the following are noted:
“Since the start of the war in Ukraine, Generali has been closely monitoring developments and the impact on business and financial markets. Under these circumstances, the company announces the withdrawal of its operations from Russia and closes its services. in Moscow and in the resignation of the Board of Directors of the Russian insurance company Ingosstrakh, in which it holds a minority investment of 38.5%, and Generali therefore has no influence over its activities.
It is also closing down Europ Assistance, which operates in the country.
Generali’s small exposure to the Russian market in terms of investments and insurance activities is also under constant evaluation and in full compliance with all applicable sanctions.
Generali states that, as an organization inextricably linked to the community in which it operates and remaining true to its commitment to supporting those in need when they need it most, it has set up an Emergency Fund through which it offers EUR 3 million to support refugees.
At the same time, the company made a donation to the UN High Commissioner for Refugees, whose members are in Ukraine, offering their services at the forefront of humanitarian aid. At the same time, activating its network of people around the world, it addressed an invitation for the collection of monetary donations which within 24 hours have already exceeded 100,000 euros. The total amount raised will be doubled by Generali and will be donated through the Group’s Human Safety Net, to support the work of UNICEF, which has been called upon to help families with affected children.
“Pursuing to accompany people who trust it, Generali has created the Human Safety Net, a holistic and global CSR plan aimed at supporting vulnerable social groups. Its existence and operation at the moment contributes significantly to the aid to the refugee population as it unites the forces of the Group and its people around the world around the pillars of supply and aid to fellow human beings “as noted.
Generali Hellas CEO Panos Dimitriou said: “At Generali we work together as a global team, on an equal and inclusive basis. Therefore, providing support to our fellow human beings whose lives were suddenly turned upside down was self-evident to us. “Crises have made us think that our lives are more interconnected than we could ever have imagined. The existence of a human supply chain, such as the Human Safety Net, within our bodies is a natural continuation of our collective effort to protect human beings.” .
Source: Capital
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