MILAN (Reuters) -Italy's top insurer Assicurazioni Generali said on Tuesday it would increase prices to keep up with rising costs, and maintained its financial targets after a strong life business helped it beat first-half earnings expectations. Generali, which on Wednesday will kick off its first share buyback in 15 years, reported a first half net profit of 1.4 billion euros ($1.4 billion), above a company-gathered analyst consensus of 1.33 billion euros. Net profit fell 9% year-on-year after a 138-million-euro impairment on the company's exposure to Russia.
Italian insurer Assicurazioni Generali has named veteran banker Stefano Marsaglia to fill a vacancy on its board left by the departure of its second largest shareholder in May, the company said on Friday. Marsaglia will replace Francesco Gaetano Caltagirone, who holds a stake of just under 10% stake in Generali according to the latest filings and fought a campaign against the reappointment of the company's chief executive in April. Caltagirone's two remaining nominees on the Generali board did not support the appointment of Marsaglia, Generali said in a statement.