LONDON Jan 14 Generali, Europe's
third-biggest insurer, could use the proceeds of a series of
planned disposals to pay off debt, helping to lower its
higher-than-average borrowings, it said on Monday.
"Disposal proceeds might also be used partially to repay
debt," Generali said in a presentation slide at an investor
conference on Monday.
Generali plans to raise 4 billion euros ($5.34 billion) by
the end of 2015 through asset sales, including its BSI Swiss
private bank and its life reinsurance arm in the United States,
Chief Executive Mario Greco said earlier.
The insurer, which on Monday unveiled a three-year
reorganisation plan aimed at bolstering its flagging financial
performance through a mixture of cost cuts and asset sales, has
a high debt to equity ratio relative to its closest competitors,
The insurer may issue bonds to investors in the U.S. and
Singapore, and could also raise debt finance from retail
investors to diversify its sources of funding, it added.