Asset sales lift Generali profit

City A.M. Reporter
ITALIAN insurer Generali said yesterday a series of asset sales had bolstered its capital position, putting it on track to beat last year’s results and hit its business targets.

The earnings update provided evidence that chief executive Mario Greco’s plan for giving the firm a more solid and more profitable business footing is bearing fruit.

The insurer reported third-quarter net profit of €510m (£429m), up from €291m a year ago, beating forecasts.