Europe News

Italy will reform no matter what the referendum result: Generali CEO

We need stability in Italy: Generali CEO

Italy will continue to apply reforms regardless of the result of the upcoming referendum on constitutional powers, the CEO of Generali told CNBC on Wednesday.

Investors have listed the upcoming Italian referendum as one of their top concerns coming into the end of 2016, with Prime Minister Matteo Renzi staking his leadership on a result.

However, the chief of the largest insurer in Italy is not concerned over a possible collapse of the current Italian government if voters say no to reforming the country's constitution.

"I'm quite positive and quite optimistic because whatever happens, in the end, the reforms will be made," Philippe Donnet, CEO of Generali told CNBC on Wednesday.

"The reforms have to be made, so they will be made … My view is that politics slows down or accelerates reforms but at some point they will have to be made," Donnet added.

Renzi initiated the public vote which is aimed at speeding up the political process. Renzi has previously said he would resign if such reforms didn't receive public support. His government has also been keen in implementing reforms in education, the justice system and the labor market.

"We need stability in Italy because we need to continue the reforms that have been started by this government," Donnet told CNBC.

Follow CNBC International on Twitter and Facebook.