Thus we learn better advantage of our size

The insurance sector 2005 results were overall very good. How are yours

2005 has been, for us, a very good year, both in growth as a result, life and property and casualty. Our activity increased by 11, in line with the growth of the market. What sectors are as much We live too easy days: even those who are performing emit a good profitability. We therefore less dug gap than in previous years, but we have a real dynamic, very superior to the market: between 2002 and 2005, we went from 7 billion net sales EUR 13.4 billion, or 23, average annual growth in a market that has instead saved 10. We have thus become the second group of insurance in France behind AXA.

How fit is your objectives in the new three-year plan of the Group

The France is 21 of the turnover of the group, and account for more than 30 in its growth. The new plan of Generali clearly emphasizes the increase in profitability. Growth, we can be. What is difficult is to combine it with an improvement in results. We will therefore continue to grow, but with more emphasis on profitability. In the coming three years, our outcome should display two-digit annual growth. We had already anticipated this orientation of the group.

You put the final touches to your reorganization. Why did you choose to merge the various operational entities under the banner Generali France

Three years ago, the Group Generali in France did not really exist. It was rather an Assembly of high-performing subsidiaries, each behaving like an independent company. We have strengthened the holding company, consolidated employees, harmonized social status and unified computing: the most important was therefore. It was logical to continue this process by providing for merge to insurance companies. This is a new step in the improvement of the effectiveness of the group. Thus we learn better advantage of our size. This will also enable us to communicate because our reputation is still very insufficient to our economic weight.

On what branches you focus Do you intend to strengthen your bank offer

Life insurance represents more than 70 of the turnover and an axis will remain strong. I wish that our general officers still reinforcing this market and sell also more at risk in insurance products. Damages, we will continue to focus on the risks that we have chosen deliberately to practice, which means that, as we support the positions of apérition (Editor's Note: leader of an insurance program), we are moderately interested by the very large accounts. Moreover, we do not always feel the need to be present in professional liability. Banking supply, our general agents offer since long Sofinco credits, our partner.

So you never intend to create your own bank...

Make bank online It will still meet at the fact that it is much easier to change insurer than banker, and the real battle is played on the main account getting. Regardless of what some say, I don't know any examples of successful development of banking services by insurance companies. For them, to make the Bank is no more necessary to the business strategy as factor of development and improvement of the profitability. That said, develop partnerships for distribution, including capital, why not

You do not hide your vain for external growth, and you declare ready to welcome General officers.

External growth is provides, especially in a market where no one is vendor. Nevertheless, a company enter the group, believe me, it would be good news for its agents...

Life insurance, we do not need acquisitions, because we have expertise and a sufficient dynamic. Clearly, I do not see that we would have interest to buy! On the other hand, in damages, with 3 billion euros in sales, we are fourth: I would like to be better. In a market that progresses from 1 to 2, to go faster, it must be the external growth. Then Yes, that interest me, if there is a network of general agents to the key, or if it is niche activities. Unfortunately, there is no visible operation at hand.