Italian insurance giant Generali said it has approved the creation of Generali Immobiliare, a new company that will develop and coordinate the real estate activities for the entire group worth approximately EUR 23bn. All the Generali real estate divisions located in the countries where the group operates will report to the new entity, the Trieste-based group said in a statement. The new company will adopt a strategy designed to improve profitability, provide guidance for the local companies in implementing best practice and optimise use of risk and yield monitoring tools.
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