Cost cuts drive record operating result at Generali

Full-year group operating profit at Generali nudged up 1 percent
to EUR4.83bn ($5.13bn) for 2016, to produce what the company said
was the best operating result in its history.
Earnings rose as expenses fell by EUR70mn in the year, the first
ever decrease for the company, Generali said.
The company is now expects to reduce net operating expenses by
EUR200mn in mature markets by 2018, instead of by 2019, as
initially targeted.
Costs are a key feature of the Italian...