Insurer Generali unveils cash generation plans
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Milan
ASSICURAZIONI Generali SpA, Europe's third largest insurer, will seek to offset the impact of record low interest rates by setting aside more capital for shareholders and expanding its retail business.
Generali will increase cumulative cash flow generation to more than seven billion euros (S$10.3 billion) by 2018 from 1.2 billion euros in 2014, the Trieste, Italy-based insurer said in a statement on Wednesday. The company expects to pay out more than five billion euros in dividends and will use cost-savings to re-invest an additional 1.25 billion euros.
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