MILAN, March 13 Generali proposed on
Wednesday to hike its dividend to 0.45 euros ($0.63) a share,
more than double what the Italian insurer distributed to
investors a year earlier, after posting its highest full-year
net profit in six years.
In a statement, Generali said its 2013 net profit rose to
1.915 billion euros from 94 million euros a year earlier.
Results were however below a Thomson Reuters SmartEstimate of
2.127 billion euros.
Its net profit for the fourth quarter was 324 million euros,
rebounding from a loss of just above one billion euros a year
The company, Europe's third-largest insurer by market
capitalisation, said its closely-watched Solvency I ratio stood
at around 150 percent at the end of February, well below what
analysts said was an average of around 200 percent for its
rivals Allianz, Axa and Zurich.
($1 = 0.7192 euros)
(Reporting by Lisa Jucca, editing by Isla Binnie)