Generali mandates CEO to take legal action against former execs

MILAN Wed Feb 19, 2014 1:16pm EST

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MILAN Feb 19 (Reuters) - The board of Generali has mandated its chief executive Mario Greco to pursue legal action against two former top executives in relation to past loss-making investments, the Italian insurer said on Wednesday.

The decision follows a November request by Italian insurance regulator IVASS to carry out an assessment of actions by former Chief Executive Giovanni Perissinotto and former Chief Financial Officer Raffaele Agrusti.

Greco will also challenge and contest the settlement agreements reached with Perissinotto and Agrusti, the company said in a statement. (Reporting by Agnieszka Flak; editing by Danilo Masoni)

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