G Generali

By Giovanni Legorano 

MILAN--Italian insurance giant Assicurazioni Generali SpA said Wednesday it will launch a legal action against two former longtime managers alleging they breached internal corporate governance rules in relation to some investments.

The insurer said it would seek damages from former chief executive, Giovanni Perissinotto, and former chief financial officer, Raffaele Agrusti.

The company also said it would start legal proceedings to recuperate the severance package paid to Mr. Perissinotto after he left the company in 2012, while it will block the severance package Mr. Agrusti was supposed to get after he left the company at the end of last year.

Mr. Perissinotto and Mr. Agrusti couldn't immediately be reached for comment.

Write to Giovanni Legorano at giovanni.legorano@wsj.com

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