By Adria Calatayud

Assicurazioni Generali SpA's capital position is expected to have improved at the end of the first quarter compared with three months earlier despite market turbulence, Chief Financial Officer Cristiano Borean said Friday.

The Italian insurance company's solvency ratio--a measure of capital strength--is expected to be around 230% at the end of the first quarter, Mr. Borean said. Last month, Generali said its solvency ratio was 221% at the end of 2022.

Generali's CFO made the remarks at its annual general meeting, where shareholders backed the appointment of Stefano Marsaglia as a member of the board of directors to replace Francesco Gaetano Caltagirone, one of the company's top shareholders.

The AGM also elected a new board of statutory auditors for the 2023-25 period with Carlo Schiavone as chair as well as Paolo Ratti and Sara Landini, Generali said.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

April 28, 2023 10:43 ET (14:43 GMT)

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