Generali closed the accounts of first semester with a sharp increase in net profits: +34,6%, to 1,8 billion, given that it takes into account the receipts resulting from resignations. THE normalized profits however, they mark a significant growth: +6,4%, to 1,3 billion. Well also the Operating income, up to 2,7 billion (+7,6%) thanks to "the positive development of all business segments", reads the group's note.
as to net collection, the branch Life rises to 7,4 billion (+29,5%) while the Danni it reaches 11,4 billion (+3,9% in equivalent terms). In all, i gross premiums they stood at 35,7 billion, up by 1,8%.
“These results highlight the group's ability to generate sustainable, financial and industrial value for all its stakeholders,” he comments Philippe Donnet, CEO of Generali – as well as the effective and disciplined execution of the three-year strategic plan 'Generali 2021' in all business segments”.
On the asset side, the combined ratio to 91,8% (-0,2 percentage points) while the Solvency Ratio it drops from 217% to 209%, "but it would be stable net of regulatory effects", Generali continues.
Finally, theprofit of Asset Management rose to 133 million (+22%), with third-party assets managed by the segment growing sharply, to 102 billion.
“Despite the renewed pressures due to interest rate trends – reads the Leone note again – the group confirms the objectives for the next three years, which expect earnings per share growth of between 6% and 8%, an average RoE above 11,5% and a pay-out ratio target between 55% and 65%”.
Generali "is today increasingly a global insurance and asset management group - concludes Donnet - with technical excellence in Life and Non-Life and distinctive expertise in asset management, which allow us to successfully face the competitive challenges of the sector to become a lifetime partner of our customers”.
