Generali: net profit up 27% in the first nine months of 2018
(CercleFinance.com) - Italy's largest insurer, Generali, said net profit rose by 27% in the first nine months of the year, thanks to positive non-operating performance and the result from disposals.
Net profit rose to 1.85 billion euros, from 1.46 billion euros in the same period a year ago, in line with analysts' expectations.
The group's total premiums reached 49.7 billion euros, up 6.1%, with an 7.8% increase in the life insurance segment.
Generali's combined ratio stood at 92.8% in the first nine months, an "excellent level" according to the group, given the significant impact of natural catastrophes.
Shareholders' equity attributable to the group fell by 7% to 23.3 billion euros.
Generali shares were up 0.2% at 14.4 euros after these results were published, although are underperforming the STOXX Europe 600 Optimised Insurance index, which is currently trading 0.8% higher.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Net profit rose to 1.85 billion euros, from 1.46 billion euros in the same period a year ago, in line with analysts' expectations.
The group's total premiums reached 49.7 billion euros, up 6.1%, with an 7.8% increase in the life insurance segment.
Generali's combined ratio stood at 92.8% in the first nine months, an "excellent level" according to the group, given the significant impact of natural catastrophes.
Shareholders' equity attributable to the group fell by 7% to 23.3 billion euros.
Generali shares were up 0.2% at 14.4 euros after these results were published, although are underperforming the STOXX Europe 600 Optimised Insurance index, which is currently trading 0.8% higher.
Copyright (c) 2018 CercleFinance.com. All rights reserved.