Generali posts solid growth and profits in Q1 results
Friday, 05 17 2019, Category: Insurance and Reinsurance, Country: Europe
Italian insurer enjoyed a big increase in its profit in the first quarter of 2019, though this was partly driven by disposals. Its GWP also show solid gains in all parts of the business.
The insurer’s profits increased by 28.1 percent to reach €744 million; its operating result increase by 6.9 percent to reach €1.3 billion.
Its gross written premiums reached €18.9 billion in the quarter, an increase of 6.6 percent. Within this, its property/casualty unit saw growth of 3.1 percent. There was also a 2.7 percent increase in the motor line, mainly due to growth in Austria, CEE and Russia (ACEER), as well as in Argentina following inflation driven rate adjustments.
Source: Intelligent Insurer