Generali Group Consolidated Results as at 30 June 2019¹
EXCELLENT OPERATING RESULT AT € 2.7 BILLION (+7.6%) AND STRONG GROWTH IN NET PROFIT TO € 1.8 BILLION (+34.6%). THE SOLID CAPITAL POSITION IS CONFIRMED
- The operating result increased thanks to positive developments in all business segments
- The Group net profit stood at € 1.8 billion (+34.6%), also including the result of discontinued operations. Adjusted net profit² rose to € 1.3 billion (+6.4%)
- Life net inflows grew to € 7.4 billion (+29.5%) and technical reserves reached € 358 billion (+4.3%). Gross written premiums stood at € 35.7 billion (+1.8%), due to the positive performance of both Life and P&C segments
- The technical excellence of the Group is confirmed with the combined ratio at 91.8% (-0.2 pps) and the New Business Margin at 4.40% (-0.18 pps)
- Asset Management net profit stood at € 133 million (+22%), with third-party AuM in this segment rising sharply to € 102 billion
- The Preliminary Regulatory Solvency Ratio remains solid at 209% (217% FY 2018; -8 pps)
Generali Group CEO, Philippe Donnet, declared: “These results show the Group’s capacity to generate sustainable financial and industrial value for all of its stakeholders. The first half of the year confirms the effective and disciplined implementation of the three-year strategic plan ‘Generali 2021’ in all business segments. Generali today is an increasingly global insurance and asset management group, with technical excellence in the Life and P&C segments and distinctive expertise in asset management, allowing us to successfully overcome the competitive challenges of the sector to become lifetime partner to our customers.”
Milan – ...
¹ Changes in premiums and Life net inflows are on equivalent terms (at constant exchange rates and consolidation scope) and changes in new business are at constant scope. The operating result, Assets Under Management and Life technical reserves exclude assets under disposal or disposed during the period.
² Adjusted for the impact of gains and losses from disposals.
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