Walmart has expansion plans in China and Generali shows why boring is beautiful in insurance. Catch up with the latest financial insights from Breakingviews columnists
LATESTBRICK AND DIGITS. With Chinese shoppers quarantined and forced to buy toilet paper online in bulk, Walmart’s subscription-based chain Sam’s Club enjoyed double-digit growth in Chinese sales in the first quarter, while Walmart’s overall e-commerce operations in the country expanded 160%. The company now wants to expand its existing 26-store footprint to 100.
INSURANCE RESILIENCE. Boring can be beautiful. Generali’s habit of hoarding capital and its focus on private customers and small businesses is offering some protection in the pandemic. Italy’s biggest insurer beat analysts’ forecasts with a 7.6% increase in first-quarter operating profit, to 1.45 billion euros. At 196%, its solvency ratio – the ability to meet obligations towards policyholders – is stronger than at rivals Allianz, AXA and Aviva.
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