updated 1/14/2013 8:01:37 AM ET 2013-01-14T13:01:37

MILAN (Reuters) - Shares in Italy's biggest insurer Assicurazioni Generali fell more than 3 percent on Monday after release of its new business plan.

At 1254 GMT Generali shares were down 2.7 percent at 14.16 euros, the biggest loser on the European insurance index <.SXIP>.

A Milan-based trader said that the group had been overly cautious in some of its targets.

(Reporting By Stephen Jewkes)

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