The group Generali archive the first semester with a Net income up 8,8% year-on-year, to €1,329 billion. This is the best figure in the last 10 years, obtained by Leone also thanks to the non-operating performance and the result of disposals, far higher than the taget (1,5 billion against 1 billion). The group communicates it in a note, specifying that the Operating income it stood at 2,5 billion, an increase of 2,7%, "thanks to the improvement of all business segments".
THEoperating RoE annualized was 12,5%, while the average figure for the period 2015-1H2018, equal to 13,4%, is confirmed in line with the strategic target (>13%).
Il combined ratio it reached 92%, “despite the significant impact of natural disasters”. There profitability of new Life business it rose to 4,5%.
As for the awards, grew to 35,1 billion (+6,5%), thanks to the development of both business segments. Collection net stable at 5,7 billion. Reserves Life techniques up 1,8% in the half year.
As for the capital position, the Regulatory Solvency Ratio stood at 201% and theEconomic Solvency Ratio to 221%, "despite the volatility of the markets in the second quarter of the year", explains the group in the note.
“The first half results highlight Generali's capital resilience and excellent technical and industrial performance in a context of global volatility – commented the CEO of Generali, Philippe Donnet – I would particularly like to point out the disposal and geographical optimization plan, with the target largely exceeded in advance, to which must be added the recent sale of the German company Generali Leben, an innovative operation that will allow us to accelerate the achievement of our strategic objectives in the Life segment. The operating performance of the Non-Life and Life segments was also excellent, as were the Investments, Asset & Wealth Management activities, results which confirm the ability to execute our strategic plan with discipline and determination. In this way we have achieved one of the highest half-year net profits ever".
On Tuesday, the Board of Directors of the Leone also reviewed the organizational structure of the group, with the creation of the figure of the General Manager in the person of Frederic de Courtois, reporting directly to CEO Philippe Donnet.
Another key decision is the replacement of the group CFO, Luigi Lubelli, who will leave the company "to pursue new professional challenges". The role of him will be assumed starting from September XNUMXst from Christian Borean, currently CFO of Generali France, who will join the Group Management Committee.
The objective of this organizational reorganization, Generali specifies in a note, is "to increase the group's ability to pursue the important challenges of the 2019-2021 Strategic Plan, which is based on three pillars: financial optimization, profitable growth, innovation and transformation of the business model".
