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Generali CEO May Invest at Least $3.3 Billion for Growth

  • Insurance expansion efforts focused on continential Europe
  • Donnet expects consolidation as smaller companies struggle
The Assicurazioni Generali headquarters in Rome.

The Assicurazioni Generali headquarters in Rome.

Photographer: Alessia Pierdomenico/Bloomberg
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Assicurazioni Generali SpA, Italy’s biggest insurer, may invest at least 3 billion euros ($3.3 billion) to grow through mid-size acquisitions in insurance and asset management, according to Chief Executive Officer Philippe Donnet.

“I don’t believe in big consolidation, because of risk management, regulation,” Donnet said in an interview. “I believe there will be some aggregation in asset management and insurance in Europe -- some of the smaller companies won’t be able to deal with low interest rates for so long -- definitely we’ll be proactive in these aggregations.”