Generali Profit Slips as Property & Casualty Income Drops
November 10 2016 - 2:11AM
Dow Jones News
By Giovanni Legorano
ROME--Italian insurance giant Assicurazioni Generali SpA's
(G.MI) net profit declined by 6% in the first nine months of the
year, hit mainly by lower income at its property and casualty
business while low interest rates and market volatility continue to
take their toll.
Trieste-based Generali, Europe's No. 3 insurer, said Thursday
that net profit dropped to 1.6 billion euros ($1.75 billion) in the
first nine months, from EUR1.7 billion in the year-earlier
period.
Operating income for the nine months dropped by 6% to EUR3.6
billion.
-Write to Giovanni Legorano at giovanni.legorano@wsj.com
(END) Dow Jones Newswires
November 10, 2016 01:56 ET (06:56 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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