【出版时间及名称】：2010年1月意大利保险行业研究报告
        【作者】：摩根大通
        【文件格式】：pdf
        【页数】：50
        【目录或简介】：


Table of Contents
Investment Thesis ....................................................................3
Exposure to Italian motor - key to FonSai and Unipol, not so big for the other main
listed insurers ...............................................................................................................4
Our forecast recovery in operating earnings - key at Unipol, significant at Generali,
much less at Zurich and Allianz...................................................................................5
Generali appetite for deals ......................................................7
Generali’s website has a section on press reviews, where all the seven items since 29
September 2009 relate to growth and deal appetite. ....................................................7
The economics of the group are back we believe at levels where a deal could be
envisaged .....................................................................................................................8
Affiliate earnings to total parent pretax earnings.........................................................9
Group debt to equity ratio – we estimate