Generali says ahead of schedule with targets - update

Insurance giant will surpass goal of increasing returns

(ANSA) - Rome, November 19 - Italian insurance giant Generali said on Wednesday that it was ahead of schedule in terms of hitting the targets of its 2013-2015 turnaround plan.
    "The balance sheet has been strengthened and further dividend capacity has been created with the aim of increasing shareholders' return, with a dividend payout expected to rise above 40% starting from 2015," Generali said in statement for its investor day.
    The insurer added that it would be able to surpass its goal of increasing operating return on equity to 13% by the end of 2015.
    "Over the past two years Generali has relentlessly pursued a strategy to fundamentally transform its business without calling upon the help of shareholders," Generali CEO Mario Greco said in the statement. "We have delivered on our promise and through discipline, simplicity and focus we have achieved a goal which many thought would not be possible, especially given the challenging macro-economic environment we operate in. "We commend all of our people for having exceeded expectations to substantially complete our turnaround one year ahead of plan making this group a leading example in the sector.
    Today we present to investors on our four key markets so they can see in detail the fruits of the tireless work of the past two years and the strong foundations we have. "Upon them we will build the next chapter of Generali. "We turn to planning for our future with the confidence that comes from a job well done".


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