Generali to restructure in bid to raise net profits to €4bn by 2009

the group is reorganising its operations in Italy and appointing a chief operating officer for the country • DAS

Assicurazioni Generali SpA has set itself a series of ambitious targets for 2009. The company intends to raise net profit by 58% between 2006 and 2009, to €3.8bn ($5.37bn), and to double overall dividend. It further intends to increase return on embedded value by 2.9% to 16%, to raise operating profit by €2.5bn to €6.5bn ($9.2bn), to see new business value grow at a 10% compound annual rate, and to reduce its combined ratio below 95%.