Assicurazioni Generali 1Q Net Profit Jumped
May 16 2019 - 2:07AM
Dow Jones News
By Pietro Lombardi
Assicurazioni Generali SpA's (G.MI) first-quarter net profit
rose 28%, boosted by growing operating results and sales of
businesses.
Net profit for the period was 744 million euros ($833.5 million)
compared with EUR581 million a year earlier, the Italian insurer
said Thursday.
Its operating profit grew 6.9% on year, with a positive
performance in the life segment, the property-and-casualty business
and asset-management operations.
The results of the quarter also benefited from disposals, such
as the sale of the company's business in Belgium.
Adjusted net profit was up 6%, in line with the targets set in
the company's plan, it said.
Gross written premiums increased 6.6% to EUR18.87 billion, with
both life and property-and-casualty businesses achieving
growth.
"The net result, even without taking into account the positive
contribution of disposals, demonstrates strong growth," Chief
Financial officer Cristiano Borean said.
"These results show that the implementation of the Generali 2021
strategy, announced in November 2018, has gotten off to an
excellent start."
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
May 16, 2019 01:52 ET (05:52 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Generali (BIT:G)
Historical Stock Chart
From Jun 2024 to Jul 2024
Generali (BIT:G)
Historical Stock Chart
From Jul 2023 to Jul 2024