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 30 September 2022, insurers’ gross premiums written increased by 1.3% to €59.8 billion (approximately US$59.84 billion). non-powered line. On the other hand, life insurance premiums contracted by 2.9%, with net inflows of life insurance reaching €7.7 billion. This was driven by unit-linked insurance and protection lines, consistent with a strategy to reposition the life insurance business portfolio.
Generali announced that its operating result increased by 7.8% to 4.8 billion euros in the financial year ended September 2022. Meanwhile, his combined ratio rose 2 points to 93.3% for him and the new business margin remained strong, rising 0.68 points to 5.42% for him.
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, commenting on business results, based on a strategy of focusing on the most profitable business lines and diversified revenue sources, said the past nine months has been a solid year for the group. said to reflect
“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 its ‘Lifetime Partners 24: Driving Growth’ strategic plan.”