Generali reveals plans for £862 million investment

Already the third biggest insurer in Europe, Italian giant Generali has set its sights on further growth by revealing plans to pour one billion euros (around £862 million) in the first funding of a new asset manager. Originally reported by Italian financial publication Il Sole 24 Ore, it was outlined that the insurer would take a majority stake in ThreeSixty Investments. Its move will be accompanied by a team of professionals that is led by Giordano Lombardo, the former CEO of Pioneer Investments. A Reuters report outlined that the Italian superpower has been on the lookout for growth opportunities across Asia, Europe and the USA. It is said to have set aside around four billion euros for acquisitions and growth – it is thought to be targeting asset managers and various other high margin businesses as it looks to boost its earnings. The company is also said to be on track to achieve the targets it originally outlined for 2021.