Positive first half performance
Generali Group CEO, Philippe Donnet, declared:
Generali’s first-half results confirm the solidity of our business and the efficient execution of our industrial transformation. The Combined Ratio at 92.9% and the New Business Value, which registered a strong increase of 52% with a margin of 4.11%, continue to remain at excellent levels. The rise in P&C premiums together with the solid and continued high-quality Life net inflows, are a result of our focused and disciplined approach to growth. The successful execution of our strategic plan led to today’s positive results with a 3.7% rise in net profit, operating RoE remaining above our target and an overall increase in capital-light products. We are achieving our financial goals thanks to the determination, the focus and the commitment with which we are implementing our strategy to make Generali simpler & smarter.
• Net profit increased to € 1,221 mln (+3.7%), thanks to the positive performance in all areas of operation
• Operating RoE stood at 13.6% (target >13%)
• Operating result up to € 2.6 bln (+4.1%), despite the current low interest rate environment, reflecting the improved profitability in the Financial and Property&Casualty segments
• Technical performance confirmed at excellent levels with CoR at 92.9% and Life New Business Value at € 942 mln rising by 52%, with a margin of 4.11%
• Premiums solid at € 36.6 bln (-0.8% 1 ). Growth recorded in P&C
business (+1.5%); in Life, net inflows stood at best in class levels exceeding € 5.7 bln
• Improved capital position with Regulatory Solvency Ratio2 at 188% and Economic Solvency Ratio at 207%
Learn more about the results here.