15.05.2014
INTERIM REPORT AS AT MARCH 31, 2014 - PRESS RELEASE (1)
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Net profit rose to € 660 million (+9.4%)
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Solvency I ratio the highest result achieved by the Group at 152% at the end of the quarter (+ 11 pp YE13), at the end of April approximately 160%.
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Net equity increased during the quarter to € 21.7 billion (+9.9%)
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Premiums exceed € 18 billion (+1.5%) due to the growth in the life sector
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Operating result at € 1.3 billion (+0.5%) reaching pre-economic crisis levels, thanks to the performance in all segments, particularly in the property & casualty sector (+3.7%)
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Completion of refinancing requirements until 2016 call dates. The reduction of debt of € 1 billion expected by 2015.
The Generali Group Chief Financial Officer, Alberto Minali, commented: "The first quarter results confirm the progress we are making in terms of business profitability, operating performance and capital strengthening. We continue to be focused on executing our strategy and we believe we will be able to meet our disposal and Solvency targets ahead of schedule".
(1) The changes in premiums, net cash inflows and APE are on equivalent terms (at constant exchange rates and scope of consolidation). The comparative figures of economic performance indicators have been restated in line with the current scope of consolidation. Consequently, the changes indicated in the results of operations and investments are on a comparable basis, excluding discontinued operations as at March 31, 2014 from the comparative period.
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