Generali Deutschland Holding AG (GE1) plans to increase lending to companies to diversify its investments, Boersen-Zeitung reported, citing an interview with the insurer’s Chief Financial Officer Torsten Utecht.
“We’re expanding our credit exposure, hence loans to medium-sized companies would be of interest for us for diversification,” Utecht was quoted by Boersen-Zeitung as saying. While the company still lacks the know-how to compete with banks, it plans to invest to build expertise, he said, the newspaper reported.
Generali is generating yields of 3.5 percent to 4 percent on new investments, Utecht said, according to Boersen-Zeitung. The company isn’t currently buying German government bonds and the share of sovereign debt in its portfolio is declining, he added, the newspaper said.
To contact the reporter on this story: Jana Randow in Frankfurt at email@example.com
To contact the editor responsible for this story: Craig Stirling at firstname.lastname@example.org