Generali Asia names CEO for HK market

Generali Asia has named Davide Glavina (pictured) as chief executive officer of Generali Life (Hong Kong) and general manager of Assicurazioni Generali Hong Kong Branch.

Glavina is a seasoned management executive with over 24 years of international experience in insurance and financial services. In his previous role, Glavina was the head of finance of Generali International from 2018, steering the finance functions across Asia, Americas, Southern Europe, Spain and Switzerland.

He was also area manager for Spain and a member of the board of directors of Generali Spain. Before that, he was the CFO of Generali Life and Generali Hong Kong Branch between 2015 and 2017. From 2007 to 2014, Glavina was the Generali group head of mergers and acquisitions. Prior to joining Generali, Davide worked for ten years in Investment Banking in London and Milan, in M&A advisory, Equity Capital Markets and Securitised Products.

Rob Leonardi, regional officer for Asia said, “We are delighted to have Glavina on board in Hong Kong. With over two decades of international experience in the insurance and financial services industry and with extensive knowledge of both Generali Group and our Hong Kong businesses, I am confident that Glavina will provide strong leadership to the team in Hong Kong as we drive our 3-year strategic plan, Lifetime Partner 24.”

Glavina, chief executive officer of Generali Life and General Manager of Generali Hong Kong Branch said, “I am excited to take up this opportunity and return to Hong Kong. With our excellent team and leveraging Generali’s over 190-years unique heritage of global expertise, I look forward to accelerating our profitable growth and to continue to be the Lifetime Partner of our business partners and customers in Hong Kong.”

Generali has slowly been expanding across Asia. Last year, it announced the acquiring AXA’s insurance businesses in Malaysia for about RM1,290 million. Under the agreement, Generali will acquire the 49.99% stake that AXA has in AXA Affin General Insurance and its 49% stake in AXA Affin Life Insurance.

According to Generali, the acquisitions will position Generali as one of the leading insurers in the Malaysian market, creating the second property and casualty insurer by market share and entering the country’s life insurance segment. The expected completion date of the acquisition is in the second quarter of 2022. 

At the same time, Generali is also looking to acquire the remaining shares of MPI Generali Insurans held by its Malaysian joint venture partner, Multi-Purpose Capital Holdings. The transactions are subject to the approval of the Malaysian Minister of Finance and the Central Bank of Malaysia. Generali's spokesperson told A+M that this process can take up to 12 months.