Generali pivots from corporate bonds

Italian insurer Generali reduced corporate bonds as a share of its general account and shifted into other fixed-income assets.

Debt issued by companies made up €103 billion ($114 billion) – 31.6% – of the firm’s life portfolio and €12 billion (28.1%) of its property and casualty (P&C) portfolio at end-June, compared with €101 billion (33.5%) and €12 billion (31.6%) six months prior.

Three years ago, at end-June 2016, corporate bonds made up 36.2% and 33.8% of the life and P&C portfolios,

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