Generali’s latest results, published in November, confirm overall a consistent execution of strategy and focus on technical excellence.
Some of the highlights include a stable operating result at €3.6bln confirming Operating Return on Equity (RoE) in line with target. Performance remains solid in Life and Property & Casualty businesses, despite the increase of €70mln in natural catastrophic claims. The Group also saw an improved performance in Holding and other businesses.
Generali Group CFO Luigi Lubelli, commented: “The nine-month results confirm our strong performance. Our business continues to grow thanks to the consistent execution of our strategy which has resulted in the increase in P&C premiums, especially in the Motor sector; strong Life net cash inflows exceeding €8.2 billion, among the best of the European peers, driven by Unit-linked and Protection products; as well as a significant increase of more than 13% in third-party assets under management.
“Continued focus on technical excellence is shown by the outstanding combined ratio, despite the increase in natural catastrophe claims, and by the notable growth of the Life new business margin. Cost reduction, lower impairments and the decrease in the cost of our financial debt further contributed to our performance in the period. Net profit before discontinued operations grew by 7.2% and underlines the solid level of our current underlying profitability.”
For more information https://www.generali.com/investors/reports-and-presentations