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Generali: down after quarterly results

(CercleFinance.com) - Generali lost 3% in Milan in the wake of the insurance company's publication of adjusted net income down 9% to 1.
12 billion euros for its first quarter 2024 (+8% excluding an exceptional capital gain made a year earlier).

The Italian group saw its operating income rise by 5.5% to 1.9 billion euros, with positive contributions from its three segments: life (+4.9%), non-life (+2.4%) and asset and wealth management (+16.7%).

Thanks to our diversified business model and our solid capital position, driven by vigorous normalized capital generation, we remain fully on track to achieve all our strategic objectives," says CFO Cristiano Borean.

Generali has also announced its intention to initiate share buybacks as part of its 2023-25 long-term incentive plan, as well as its ongoing incentive and compensation plans.

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