April 19, 2018 / 10:36 AM / 10 months ago

Italy's Generali to sell holdings in coal sector in 6-12 months

TRIESTE (Reuters) - The chairman of Assicurazioni Generali (GASI.MI) pledged the Italian insurer would liquidate its investments in the coal sector in 6 to 12 months after Greenpeace activists staged a protest on Thursday.

Protesters hung a large banner on a building in the northern city of Trieste, where Generali’s annual general meeting was taking place, saying “Enough with insuring coal and climate changes”.

Earlier on Thursday Generali said in a note its board had approved in February the sale of its equity investments in the coal sector and letting any debt holdings expire unless it sold it ahead of maturity.

Reporting by Gianluca Semeraro, writing by Valentina Za

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