January 14, 2013 / 8:21 AM / in 5 years

Shares in Generali volatile after plan

MILAN, Jan 14 (Reuters) - Shares in Generali were volatile in morning trading on Monday after the biggest Italian insurer unveiled a turnaround strategy aimed at boosting operating results by a quarter.

In a meeting with investors in London, Generali boss Mario Greco promised operating profit of more than 5 billion euros ($6.7 billion), up from 4 billion expected at the end of 2012, and targeted 600 million euros of cost savings over three years.

At 0817 shares in the insurer were down 0.48 percent after a posting a gain of around 0.5 percent at the open. (Reporting by Francesca Landini; editing by Danilo Masoni)

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