MILAN (Reuters) – Generali is considering increasing its purchases of Italian government bonds, its CEO said on Thursday, as the government reviews a landmark asset management deal which has raised concerns in Rome.
Generali held 35.6 billion euros in Italian government bonds at the end of 2024, assets which it uses to offset liabilities in its life insurance business.
“Market developments on one side and significant growth in the life portfolio, with positive net inflows, on the other, make it natural to consider increasing BTP bond purchases,” CEO Philippe Donnet told a press conference.
Donnet also said that the government’s review of Generali’s deal to combine its asset management business with BPCE-owned Natixis Investment Managers provided an opportunity to address any concerns about the transaction.
(Reporting by Gianluca Semeraro; Writing by Valentina Za; editing by Giulia Segreti)
