MILAN May 11 Italy's biggest insurer Generali
said on Thursday it was ready to buy portfolio
management assets to beef up its fee-based business and help
lift group profits.
The insurer said in a statement it was targeting a net
profit for its asset management business of 300 million euros
($326 million) by the end of 2020 to lift the group's profits by
150 million euros.
The asset management division aims to have 500 billion euros
of assets under management by the end of 2020, it said.
($1 = 0.9202 euros)
(Reporting by Stephen Jewkes; editing by Agnieszka Flak)