MILAN Nov 23 Italy's biggest insurer Generali
confirmed financial targets on Wednesday as it looks
to leave unattractive markets and cut costs to improve
profitability and boost capital.
The insurer said it aimed to generate 1 billion euros ($1
billion) in cash by 2018 by exiting less profitable markets and
reduce operating costs by 200 million euros in mature markets
over the period 2016-2019.
On Tuesday sources told Reuters Generali was mulling
shedding up to 8,000 jobs outside of Italy.
Generali, which generates most of its revenues and earnings
in Italy, France and Germany, is looking to generate more than 7
billion euros in cash by 2018 and distribute more than 5 billion
euros in dividends.
($1 = 0.9406 euros)
(Reporting by Stephen Jewkes; editing by Agnieszka Flak)