The Italian insurance company Generali, third biggest insurer on the European market, announced intentions to increase profits with 50 per cent within 2006-2008, compared to last year’s profit of 2.9 bln euro, according to the new strategy launched on Monday.
For the Romanian market, as well as for other S-E European countries such as Slovakia, Slovenia and Croatia, the company forecasts an annual business growth of 20 per cent until 2008.
According to the MarketWatch, the Italian insurer plans to strengthen presence on Chinese, Indian and Eastern European markets, announcing the opening of six subsidiaries in China where it aims to rank among the first three on the local market, and the joint venture with an Indian company.
Last year, the Italian company based in Trieste reported a 15 per cent profit growth of up to 1.92 bln Euros.
Generali announced plans to double the number of dividends until 2008, traded in 2005 with 0.54 euros each that provided a 36 per cent growth compared to the previous year. More over, the company will apply for a 4 bln euros loan to purchase minority shares package of AMB Generali, Generali Switzerland and Generali Holding Viena.
The Group is also to take over 10 per cent of the Israeli company Migdal Insurance and 45.9 per cent of the German health insurer Central Kranken.