MILAN (Reuters), BIT: Generali shareholders, representing 70% of the Italian insurance capital registered to vote in Friday’s annual general assembly. This is an expected move to favor the reappointment Chief Executive Philippe Donnet.

Gabriele Galateri di Genla, Chairman Generali, stated that high attendance is a result of “active participation in company life” and “strong ties which have been built over time.”

Rebel shareholders challenge Donnet’s re-election for the third term.

A number of people close to Donnet’s election process claim that Donnet will be more likely to win re-election because of the financial support from institutional investors.