Generali to meet Solvency target regardless of market conditions-CFO

MILAN Thu May 15, 2014 2:39am EDT

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MILAN May 15 (Reuters) - Italy's biggest insurer Generali will be able to meet its capital strengthening target even if financial markets were to turn, Chief Financial Officer Alberto Minali said on Thursday.

Generali said earlier in the day that its Solvency 1 ratio, a measure of capital strength, stood at 160 percent at the end of April, partly helped by favourable market conditions.

"Even if markets were to turn ... we would be able to reach our target," Minali told reporters during a news call.

The executive also said that Generali does not plan a further placement of Banca Generali, which it considers a key distribution channel for its products, and said the group does not have other sales in the pipeline beyond Swiss unit BSI. (Reporting by Lisa Jucca; editing by Agnieszka Flak)

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