Assicurazioni Generali 1st Half Net Profit Rises
01 Agosto 2018 - 1:21AM
Noticias Dow Jones
By Pietro Lombardi
Assicurazioni Generali SpA (G.MI) said Wednesday that its net
profit for the first six months of the year rose, supported by
improving performances across its business segments.
The Italian insurer's net profit for the period rose 8.8% on
year to 1.33 billion euros ($1.56 billion). This is "one of the
highest half-year net profits ever," Chief Executive Philippe
Donnet said.
Operating income rose to EUR2.53 billion from EUR2.47 billion a
year earlier, with its property and casualty, and life segments
reporting growing operating results.
"The Group will continue to rebalance the portfolio in the Life
segment with the goal of optimizing its profitability and allowing
capital to be allocated more efficiently," Generali said.
Late Tuesday, the insurer said Chief Financial Officer Luigi
Lubelli will leave the company and will be replaced by Cristiano
Borean as of September 1. Mr. Borean, currently CFO of Generali
France, will also join the Group Management Committee. The insurer
also announced some changes to its organization structure that will
take effect in September.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
August 01, 2018 02:06 ET (06:06 GMT)
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