MILAN (Reuters) – Europe’s third-largest insurer aims to expand in parts of Asia and Latin America, particularly Argentina and Brazil, although most of its future growth will be organic, Chief Executive Philippe Donnet said in an Italian newspaper on Monday.
“(Growth) will be mainly organic but if there are acquisition opportunities that allow us to speed up growth then we will evaluate them,” Donnet said in an interview with la Repubblica’s Affari&Finanza weekly supplement.
Donnet also said that with regards to acquisitions the group had a “disciplined and opportunistic” approach.
He added the group intended to strengthen its position in countries where it already did business but that it also wanted to expand in parts of Asia and Latin America, particularly in Argentina, where it is market leader, and Brazil.
Generali is due to present a new business plan at the end of November.
(Reporting by Giulia Segreti)