Assicurazioni Generali SpA or Generali Group (ARZGY.PK), an Italian insurance and asset management company, said on Tuesday that it intends to start repurchase of 500 million euros worth shares in 2024.
The Group CEO Philippe Donnet said: "As a result of our confidence in both completing our plan and in the Group's cash and capital position, we will propose a 500 million euros share buyback at the next AGM in April, confirming our focus on shareholders remuneration."
The company said that the acquisition of Liberty Seguros in 2023 will enhance the profitability and competitiveness. It is expected that Liberty Seguros will contribute, after excess capital repatriation, over 250 million annually to the Group's pre-tax profit by 2029.
For comments and feedback: editorial@rttnews.com