Global insurance and asset management provider Generali steps up its efforts in Iberia with the appointment of Pedro Carvalho as chief executive officer (CEO) in Portugal.
Reporting to Generali's CEO International Jaime Anchústegui, Carvalho will be leading Generali Vida, Generali Seguros, and Seguradoras Unidas.
Carvalho brings to the group a significant experience in senior management roles within the insurance sector.
His appointment coincides with the completion of the acquisition of 100% of Seguradoras Unidas and service company AdvanceCare from Calm Eagle Holdings and Calm Eagle Parent Holdings, entities majority owned by investment funds managed by certain affiliates of Apollo Global Management. They were both sold for €510m and €90m respectively.
Following the operation, which had been announced in July 2019, Generali became the second largest non-life group in Portugal with a market share of 18.7%.