Cattolica Assicurazioni: extraordinary board of directors withdraws the proxies from the a. Minali

The board of directors revoked the proxies from Minali and assigned them to the general manager Carlo Ferraresi. At the base of the board's decision there would essentially be differences with Minali on strategic vision and corporate organization, while there would be satisfaction with the financial results achieved by the manager. In particular, from environments close to the shareholders, it is noted that in recent years Cattolica has made important progress in corporate organization, adopting monistic governance and accepting Warren Buffett among its members, but it still remains a cooperative with its own specific characteristics.

In these years of Minali management the life of the Verona company has been characterized by new important inputs in the shareholding structure. The most striking was that of Berkshire Hathaway by Warren Buffett, which in October 2017 entered with over 9% of the capital, taking over the remaining portion of Banca Popolare di Vicenza in liquidation. A news that, in the following weeks, had given wings to the title, protagonist of a real rally on the Stock Exchange. The entry of Buffett has therefore proved to be a bargain also for the other partners, starting from the Cariverona Foundation which had previously strengthened its position in the company's capital, also in this case taking over part of the stake held by the Popolare di Vicenza . In April 2018, then the Cattolica assembly set aside the project for transformation into a joint-stock company. 'I presume to say – Minali had noticed on that occasion – that Cattolica, if it were to become a spa, being an attractive company could become the prey of other realities. Taking this risk would have been stupid. " From the commercial point of view, on the other hand, the most important operation of the Minali management is probably the global partnership agreement with Banco Bpm, while in these days the company is in the running for the renewal of home bancassurance Ubi. Not even two weeks ago the manager, speaking on the sidelines of an event, had instead confirmed the 2020 targets of the Verona company.

Cattolica: Cariverona, decision on Minali "unexpected, we await motivation" – The decision of the Cattolica board to withdraw the delegations from the managing director Alberto Minali is "unexpected". Reported to Radiocor sources close to the top of the Cariverona Foundation, a member of the insurance group, with 3.4%. The Scaliger body "waits to know all the elements and the reasons behind the decision".