Generali: doesn't rule out acquisition in Germany
(CercleFinance.com) - In an interview published in yesterday's edition of the Handelsblatt, Generali's CEO Philippe Donnet said that the Italian insurer in particular has its eyes on the German market, so as to catch up with its competitors Allianz and Axa.
Under the direction of Mr. Donnet, Generali has reviewed its geographical organisation and - in particular - its presence in Germany in recent years, for example via disposals.
However, the group has not ruled out making a "targeted acquisition" in Europe. Mr. Donnet believes that Europe remains a "very attractive insurance market," particularly because of the aging population, which creates savings needs, in addition to public pension schemes. In addition, the market is not saturated in non-life insurance.
Where would this be? Mr. Donnet says that Generali is interested in European countries outside Italy - whether in property and casualty insurance, life insurance or asset management. However, if (a transaction) were to occur in Germany, it would be great ('großartig'), Mr. Donnet says in the German business newspaper.
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Under the direction of Mr. Donnet, Generali has reviewed its geographical organisation and - in particular - its presence in Germany in recent years, for example via disposals.
However, the group has not ruled out making a "targeted acquisition" in Europe. Mr. Donnet believes that Europe remains a "very attractive insurance market," particularly because of the aging population, which creates savings needs, in addition to public pension schemes. In addition, the market is not saturated in non-life insurance.
Where would this be? Mr. Donnet says that Generali is interested in European countries outside Italy - whether in property and casualty insurance, life insurance or asset management. However, if (a transaction) were to occur in Germany, it would be great ('großartig'), Mr. Donnet says in the German business newspaper.
Copyright (c) 2019 CercleFinance.com. All rights reserved.