Generali Gross Premiums Climbed 3.2% Last Year on German Growth

Assicurazioni Generali SpA (UCG), Italy’s biggest insurer, said gross premiums climbed 3.2 percent to 69.6 billion euros ($91.8 billion) last year, driven by growth in Germany and central and eastern Europe.

Life premiums increased 3.1 percent to 46.8 billion euros, while non-life business rose 3.3 percent to 22.8 billion euros, the Trieste, Italy-based company said today in a statement.

Mario Greco, who took the helm at Generali in August, is seeking to convince investors he can revive profit and boost capital by cutting costs, shedding non-strategic assets and targeting faster-growing emerging markets.

The insurer will release full-year results on March 14.

To contact the reporter on this story: Sonia Sirletti in Milan at ssirletti@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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