Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Generali Will Sell BSI Group ‘for Sure,’ CEO Greco Says

Jan. 23 (Bloomberg) -- Assicurazioni Generali SpA, Europe’s third-largest insurer, will sell Swiss asset-management unit BSI Group as part of its disposal plan to boost capital.

“We will sell BSI for sure, we have plenty of time because our strategy goes to 2015,” Chief Executive Officer Mario Greco said in an interview with Francine Lacqua on Bloomberg Television at the World Economic Forum in Davos. “We are ahead of our plans and we have time to focus on the BSI sale, so we will sell it.”

Greco is selling non-strategic assets, including BSI, so it can focus on the company’s main business and internal growth. Italy’s biggest insurer is more than half way to achieving its goal of raising 4 billion euros ($5.4 billion) from disposals by 2015, after selling its U.S. reinsurance unit and Mexican businesses last year.

“We are not looking for acquisitions,” Greco said. “We want to restore the capital, we want to improve the sustainability of Generali’s strength. When this is done we’ll move on the new plan.”

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.