Mario Greco to exit cross-shareholdings

Mario Greco, Generali

Generali is set to raise €1.5bn ($1.98bn) from disposals in the next 18 months, according to chief executive Mario Greco.

Greco said that the insurer’s recent asset sales had solved investor worries that the insurer might need a capital increase, according to the Financial Times.

The Generali boss has already raised $3.3bn from selling assets in the US and Mexico, as well as by cutting costs.

Greco also wants Generali to leave several cross-shareholdings, possibly including one in Telecom Italia.