Italy’s Generali Expects to Hit 2021 Targets After Reporting ‘Excellent’ Results in 2020 MILAN – Generali is confident it can hit its targets this year after Italy’s biggest insurer overcame a negative impact from the coronavirus crisis in 2020 to deliver a record operating profit. Operating profit, which is closely watched by the market, rose 0.3% to 5.21 billion euros ($6.2 billion) in 2020, Generali said, despite a 123 million euro hit from COVID-19. Generali shares were up 2% at 0830 GMT on Thursday, outperforming a flat European insurers index. “After an excellent 2019 and an excellent 2020 we are well positioned to close out 2021 well,” Generali Chief Executive Philippe Donnet told a news briefing.