General, a profit of 1.6 billion – Corriere della Sera

General closed the first nine months of 2016, with a net profit of € 1.6 billion (5.9% ) and a net profit of more than 3.6 billion (-5,6%). Both the data, growth in the third quarter, respectively 6.4% and 7.3%, affected by the scheduled reduction of the profits of the disposal, the persistent volatility of the markets and the persistence of low interest rates, explains the general director and the cfo Alberto Minali in a note. The awards are to fall by 2.8% to 52,1 billion with a positive trend in the Damage sector (+1.5%) and a decrease in the Life (or 4.5%). The combined ratio improved to 92,4% (0.2 percentage points). Roe operating ratio stood at 12.7%, but has confirmed more than 13% as the target of the industrial plan. Under the equity profile the economic solvency ratio, which applies the internal model to the entire perimeter of the group, is stable at 188%, while regulatory solvency ra tio decreased to 159%, and 161% at the end of June.

robustness of the model

In General, “the operating profitability annualized”, to 12.7% in the results of the 9 months, “reflected the slowdown recorded in the last quarter of 2015″, but “it will be at the end of the year, in line with the targets of the plan,” says Minali in the comment of results at the end of September. The results, he adds, “confirm the solidity of the business model of Generali”. “He continues, in fact — and indicates — in a market environment still difficult, the management is disciplined in the collection the Life, with the aim to focus on quality and profitability, and increases the collection of Damages, which allows us to move forward in a segment with excellent levels of profitability”. “With this collection, the result of the work of all our collaborators and networks — continues the director — general further enhance the technical performance, in particular in the third quarter which recorded an operating profit and an earnings increase, despite the financial trends left a slowdown determined by the programmed reduction of the profits of the disposal, the continued volatility of the markets and the continuation of low interest rates”.

November 10, 2016 (change the November 10, 2016 | 08:08)

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