Previous Close | 10.40 |
Open | 10.35 |
Bid | 0.00 x 0 |
Ask | 0.00 x 0 |
Day's Range | 10.34 - 10.41 |
52 Week Range | 8.64 - 10.74 |
Volume | |
Avg. Volume | 48,042 |
Market Cap | 31.988B |
Beta (5Y Monthly) | 1.03 |
PE Ratio (TTM) | 7.30 |
EPS (TTM) | 1.42 |
Earnings Date | N/A |
Forward Dividend & Yield | 1.19 (11.46%) |
Ex-Dividend Date | May 22, 2023 |
1y Target Est | N/A |
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The finance chief of Italy’s biggest insurer has expressed concerns about potentially conflicting interests when life insurance companies are owned by private equity funds, as anxiety grows about the consequences of a shift of ownership in the sector. Almost 10 per cent — $850bn — of US life insurance industry assets were owned or managed by private equity firms by the end of 2021, the IMF said. “My view is, for sure, on the private equity fund owning [a life insurer], there is not a perfect alignment of interests,” said Cristiano Borean, chief financial officer at Generali.
Generali confirmed its targets until 2024 but said the insurance industry might be affected by weaker demand on signs of an economic slowdown, adding it planned to rebalance its life-insurance portfolio to boost profitability.
MILAN (Reuters) -Italy's top insurer Generali stuck to 2024 targets on Thursday after posting a 29.6% rise in nine-month adjusted net profit despite rising claims from natural disasters which it said would also weigh on this quarter. The impact of extreme weather on Italy's fragile topography has been posing a growing challenge to insurers there. Floods and hailstorms in Italy, Greece and central eastern European countries inflicted a 3.7-percentage point hit to Generali's combined ratio in the nine months through September.