Investing.com -- Assicurazioni Generali (BIT:GASI) SpA, Italy's largest insurer, said on Thursday that it plans to return more than €7 billion ($7.3 billion) in dividends and repurchase at least €1.5 billion in shares by 2027.
The move is part of CEO Philippe Donnet's strategy to pursue growth in asset management and high-margin insurance.
In a strategic plan unveiled, Generali pledged to increase shareholder payouts by approximately 30% in the three years through 2027 compared to the preceding period.
The company also set a target for an annual dividend per share above 10%. Additionally, it commits to a minimum of €500 million in annual share buybacks, with the exact amount to be evaluated at the beginning of each year.
Generali will continue to explore merger and acquisition opportunities with strict discipline, comparing any potential transaction against share buybacks. The company has allocated more than €3 billion for share buybacks and other capital deployment.
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