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Generali Posts 2022 Results for 9M

International insurance giant Generali today released its results for the nine months 2022, highlighting its continued growth momentum and very strong capital position.

In the period ended September 30, 2022, the insurer’s gross premiums written increased by 1.3% to €59.8 billion (approximately C$80.94 billion). non-powered line. Life insurance premiums, meanwhile, shrunk by 2.9%, with net life insurance inflows reaching €7.7 billion. This was driven by unit-linked and protection lines, consistent with a strategy to reposition the life insurance business portfolio.

Generali has revealed that its operating result increased by 7.8% to reach 4.8 billion euros in the fiscal year ending September 2022. Meanwhile, his combined ratio rose 2 points to 93.3% and his new business margin remained strong, rising 0.68 points to 5.42%.

Insurers’ net profits were broadly stable, falling by 0.8% to €2,233 million. Generali noted that excluding the impact of Russian investments, net profit would rise by 5.5% to €2.374 billion. The Group maintains a strong capital base with a solvency ratio of 223% (227% in 2021).

Cristiano Borean, CFO of Generali Group, commented on the results seen in the business, saying that it is based on a strategy of focusing on the most profitable business areas and diversified sources of revenue, and that the nine-month He said the duration reflected the solidity of the group.

“This allows us to continue to create value despite the macroeconomic environment,” he said. “Generali has successfully achieved sustainable growth and continues to improve its operating results, reflecting the effective implementation of our ‘Lifetime Partner 24: Accelerating Growth’ strategic plan. “

Generali Posts 2022 Results for 9M

Source link Generali Posts 2022 Results for 9M

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