Generali, results beyond expectations

Generali has posted a profit of 603 million EUR (773 million USD) for the first quarter of 2013. This result is above the expectations of the group which was targeting a figure of 528 million EUR (677 million USD).
Mario Greco, the group’s CEO since last August, has been keen to cleanup the company's balance sheet by re-focusing on insurance, which means the cession of assets deemed to be non-strategic. This approach reinforces the Italian insurer’s capital. The good results of the first quarter were accounted for by the performance achieved in non-life insurance.