Generali makes Pignoli Head of Group Insurance Capital Solutions

Generali, the Italian and global insurance giant, has promoted Michele Pignoli to a role that sees him with oversight of capital related initiatives, which will include any insurance-linked securities (ILS) activities at the firm.

Pignoli joined Generali at the start of 2022 as a Senior Project Manager focused on Capital Solutions initiatives.

This month, he has been promoted and takes on the new role of Head of Group Insurance Capital Solutions at Generali.

Pignoli has a background in alternative risk transfer and insurance-linked securities (ILS).

He began his career at Deloitte in 2012 and then spent time as a Financial Controller at Fiat Chrysler Automobiles, before moving into the insurance and reinsurance industry in 2014 at global giant Munich Re.

He worked as a reinsurance accountant at Munich Re before joining the Capital Partners division at the reinsurer, eventually becoming the Senior Financial Controller for both Munich Re’s Capital Partners, the unit where structured reinsurance and ILS activities are undertaken, as well as the Digital Partners venture and technology focused unit.

In 2020, Pignoli joined Allianz Global Corporate & Specialty (AGCS) and became a Senior Global Practice Leader for Alternative Risk Transfer & Capital Solutions at the company.

Generali already has a track-record for utilising ILS within the business, having sponsored four catastrophe bonds to-date.

The insurer also utilises capital markets funded third-party capital elsewhere in its reinsurance arrangements, we understand.

Generali’s most recent catastrophe bond, the €200 million Lion III Re DAC transaction, was hailed as “green” and the insurer took significant steps to demonstrate the ESG value embedded within the notes.

As a major global insurer, Generali could look to help its clients access capital solutions funded by third-party investors, as well as by its own balance-sheet. So the new role Pignoli steps into could be an interesting one that helps the insurer further develop its use of ILS capacity.