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Generali first-half operating profit rises four percent to beat expectations

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Generali first-half operating profit rises four percent to beat expectations

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MILAN (Reuters) – Italy’s top insurer Assicurazioni Generali <GASI.MI> said on Wednesday its operating profit in the first half rose 4.1 percent to beat expectations, boosted by its non-life business. Europe’s No.3 insurer said first-half operating earnings came in at 2.59 billion euros ($3.1 billion), above an analyst forecast provided by the company of 2.51 billion euros. Its operating profit in the life segment fell 2.8 percent in the period, while that of the non-life business rose 0.7 percent. Generali, which confirmed its strategic plan targets, said its economic solvency ratio – a measure of financial strength – stood at 207 percent from 194 percent in 2016.

(Reporting by Stephen Jewkes, editing by Valentina Za)
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