(News Bulletin 247) – Generali announces today its results for the first quarter. The group posted “strong and profitable” growth with adjusted net profit which almost doubled to reach 1,229 million euros (+49.7%).
Operating profit increased to 1,820 million euros (+22.1%), mainly thanks to the strong contribution of the Property & Casualty segment, while the Life segment resisted.
Gross written premiums increased to €22.2 billion (+1.3%) driven by robust growth in the P&C segment (+10.1%).
The solvency ratio is “extremely solid at 227%”, for 221% for the 2022 financial year.
Generali Group Chief Financial Officer, Cristiano Borean, said: ‘This is the first time that we have presented our reports according to the new accounting standards. This allows us to significantly improve the visibility and predictability of profit sources. ‘
On the strength of its results, Generali has confirmed all the objectives of its strategic plan, including an increase in earnings per share of 6 to 8% per year and cumulative dividends of 5.2 and 5.6 billion euros over the period 2022. -2024.
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