Italian insurer Generali announced for the first nine months of the year an increase in the operating profit and gross written premiums, "in line with the successful completion of the 'Generali 2021' strategic plan".

Thus, Generali posted a strong increase in the operating result to EUR 4.4 billion (+10%), thanks to the positive performance of the Life, Asset Management and Holding and other businesses segments. Resilient contribution from the P&C segment, despite the higher impact of natural catastrophe claims

At the same time, gross written premiums increased to EUR 54.9 billion (+6.4%), supported by both the Life segment (+6.5%) and the P&C segment (+6.2%). Life net inflows grew to EUR 9.5 billion (+3%), entirely focused on the unit-linked and protection lines.

The Combined Ratio was 91.3% (+1.6 p.p.) and the New Business Margin was excellent at 4.76% (+0.66 p.p.).

Net result rose by 74% to reach EUR 2,250 million (EUR 1,297 million 9M2020) while, Solvency Ratio was extremely solid at 233% (224% FY2020).

"The results for the first nine months confirm the Group's excellent performance, technical profitability and solid trends across all businesses with one of the highest Solvency Ratios in the sector. Life net inflows, entirely focused on the unit-linked and protection lines of business, continue to rise, while the P&C segment remained resilient, despite the higher impact of natural catastrophe claims. The results of the Asset Management segment continue to grow, also thanks to our multi-boutique strategy. These results, which are fully in line with the successful completion of the 'Generali 2021' strategic plan, represent a solid foundation for the new three-year plan we will present to the market on 15 December", said Cristiano BOREAN, Generali Group CFO.