Assicurazioni Generali to Cut Debt, Eyes Growth in Asia, Latin America
November 21 2018 - 2:17AM
Dow Jones News
By Pietro Lombardi
Assicurazioni Generali SpA (G.MI) plans to reduce its debt as it
eyes growth in Asia and Latin America, it said Wednesday,
presenting its 2019-21 strategy ahead of its investor day.
The Italian insurance giant plans to cut its debt by up to 2
billion euros ($2.28 billion) by 2021, while growing earnings and
investing EUR1 billion in innovation and digital
transformation.
The insurer plans to strengthen its presence in some European
markets and wants to "deliver profitable growth in Asia and Latin
America," it said.
The company sees earnings per share growing at an annual rate of
between 6% and 8% through 2021 and targets a dividend payout range
of between 55% and 65%.
As part of the three-year strategy, the company is targeting an
average return on equity of more than 11.5%.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
November 21, 2018 02:02 ET (07:02 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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