Operating result grew to € 3.9 billion (+9.1%) and net profit increased to € 2.2 billion (+16.6%). Solid capital position
• Strong operating result at € 3.9 billion (+9.1%) thanks to the improvements in all business segments. P&C technical profitability remained at an excellent level with a combined ratio of 92.5% (-0.3 pps). Life New Business Margin (NBM) at 4.28% (-0.25 pps);
• Group net profit up to € 2,163 million (+16.6%), in part reflecting the result of disposals. Adjusted net profit
was € 1,872 million (+6.2%), excluding the one-off expense of € 188 million associated with the liability management transaction;
• P&C premiums up 4.3% thanks to the development in the Group’s main markets. In Life, net inflows at over € 10 billion (+24.5%) and technical provisions up to
€ 363.3 billion (+5.8%). Total gross written premiums stood at € 51.4 billion, an increase of 3.2% thanks to the development of both business segments;
• Solid Group capital position with a Preliminary Regulatory Solvency Ratio of 204%.
Generali Group CFO, Cristiano Borean, stated: “Generali has achieved strong results in the first nine months of the year thanks to the growth in all business lines. Technical excellence has been confirmed; in particular, in the P&C segment with an outstanding combined ratio and further premium growth as well as in the Life segment, thanks to a solid new business margin and growing net inflows. Within the context of persistent low interest rates, the Group’s capital position remains solid.”
Read the press release here