Generali: Q1 2024 results

Generali has posted a turnover of 26.391 billion EUR (28.5 billion USD) as at 31 March 2024, up by 21.4% year-on-year.

Life written premiums increased by 28.4% to 16.914 billion EUR (18.3 billion USD), while property-casualty (P&C) premiums were up by 10.9% to 9.477 billion EUR (10.2 billion USD). The non-life combined ratio stood at 91%, compared with 90.7% at the end of the first quarter of 2023.

The operating result amounted to 1.898 billion EUR (2 billion USD), representing a 5.5% increase over the same period of 2023.

At 1.119 billion EUR (1.2 billion USD), adjusted net profit was down 9% over one year. Despite this decline, this result remains above analysts' expectations, who had anticipated a net profit of 979 million EUR (1.1 billion USD) for the first three months of 2024.