Operating result rose to € 3 billion (+10.4%), thanks to the positive performance of the Life, Asset Management and Holding and other businesses segments. The excellent contribution from the P&C segment was confirmed
→ Gross written premiums increased to € 38 billion (+5.5%), up in both the Life segment (+5.8%) and the P&C segment (+4.9%). Strong Life net inflows at € 6.3 billion (-8.6%)2. The New Business Margin was excellent, and at 4.67%, among the best in the sector (3.94% 1H20). The Combined Ratio was substantially stable at 89.7% (+0.2 p.p.)
→ Strong growth in the net result which rose to € 1,540 million (€ 774 million 1H20)3
→ Solvency Ratio was extremely solid at 231% (224% FY2020)
→ The Group is fully on track to meet its targets for the year and successfully complete the ‘Generali 2021’ strategic plan
The Generali Group CEO, Philippe Donnet, stated: “Today’s excellent results confirm that we are fully on track to successfully deliver the ambitious targets of the current ‘Generali 2021’ plan, even in this very challenging environment. The significant growth achieved in the first six months of the year strengthens Generali’s position as the European leader, thanks to our operational excellence, the acceleration of our digital innovation and the quality of our distribution network. We will continue to forge ahead with an even stronger focus on our Lifetime Partner ambition, leveraging on the enthusiasm, passion and energy of our 72,000 colleagues and 165,000 agents worldwide, and we look forward to presenting the new plan at the Investor Day on December 15th.”
To know more, read the full Press Release.