Rina

The story begins not in a garage, but in the maritime heart of Genoa, Italy, in 1861. A group of local marine insurers and ship-owners founded the Registro Italiano Navale, or RINA, to provide independent classification of merchant ships. This made it the third-oldest ship classification society in the world. For well over a century, it focused almost exclusively on this core mission, operating as a monopoly for Italian-flagged vessels. A major turning point arrived in 1999. A European directive liberalized the ship classification market, forcing the institution to compete. In response, the original non-profit organization transferred all its operational activities to a new entity: RINA S.p.A. This strategic pivot marked the beginning of a significant transformation. Under the leadership of CEO Ugo Salerno, who took the helm in 2002, RINA began a journey of diversification. Moving beyond its maritime roots, the company expanded into certification, testing, inspection, and engineering consulting across various sectors including energy, industry, and infrastructure. This new chapter was fueled by strategic acquisitions of specialized engineering firms. In late 2023, a significant event unfolded as the Italian investment fund, Fondo Italiano d'Investimento, acquired a minority stake in RINA, injecting new capital. This move set the stage for a potential stock market debut in the coming years and brought in Carlo Luzzatto as the new CEO to steer the company's next phase of growth.