MILAN, Aug 6 (Reuters) - Italy’s UnipolSai will not use the capital gains from the sale of assets to German rival Allianz SE to pay a special dividend, the insurer’s CEO said on Wednesday.
“I would exclude a special dividend absolutely,” Carlo Cimbri said in a conference call on first half results.
Earlier this year Italy’s No. 2 insurer agreed to sell a portfolio of assets to Allianz for 440 million euros ($588 million).
Cimbri also said the group expected to beat the targets for 2014 that were in the group’s three year plan.
1 US dollar = 0.7477 euro Reporting by Stephen Jewkes; Editing by Lisa Jucca