Generali Plans Expansion

April 20, 2001 ( - Italy's biggest insurer Generali plans to create a Europe-based asset management company focusing on life pension funds.

Though the location of the company’s headquarters has not been decided, but the group intends to sell products in France and Spain, before moving onto the Austrian market.

The group also plans to have a presence in Asia, where it is currently negotiating with an industrial company in China with the intention of establishing a joint venture in life insurance and asset management. In addition, the company will pursue local partnerships in the Philippines.

Generali also aims to expand their present to Eastern Europe where its short-term go is to reach 2% of the Polish market.

The company is also evaluating an asset management company in the US in a bid to gain a foothold in the world?s largest market.