Generali: FY earnings up over 2% at E2.9bn
(CercleFinance.com) - General has announced 2022 results including the best operating result in its history, with continued growth in premiums and net income.
The group's operating profit came in at 6.5 billion euros (+11.2%), which it said is mainly thanks to life insurance, as well as growth in property and casualty insurance. The combined ratio is 93.2% (+2.4 p.p.), while its margin on new business was 5.35% (+0.86 p.p.)
Earnings increased 2.3% to 2,912 million euros.
Gross written premiums reached 81.5 billion euros (+1.5%), with strong growth in non-life insurance (+9.8%), driven by non-motor insurance.
Resilient net inflows were 8.7 billion euros in life insurance, entirely focused on unit-linked products and protection, in line with its strategy.
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