Generali: results for the first nine months of 2023

Generali has ended the first nine months of the 2023 financial year with a 4.7% growth in turnover to 60.5 billion EUR (64 billion USD). The adjusted net result climbed by 29.6% to 2.98 billion (3.15 billion USD), while the operating result improved by 16.7% to 5.1 billion EUR (5.4 billion USD).

The property-casualty class of business is the main driving force behind the Italian insurer's results, as gross premiums have increased by 11.4% to 23.4 billion EUR (24.8 billion USD) in 2023, while the operating result has jumped by 50.3% to 2.16 billion EUR (2.3 billion USD).

In the life business, premiums have shown a slight improvement of 0.9% to 37 billion EUR (39 billion USD), while the operating result has declined by 1.1% to 2.79 billion EUR (2.95 billion USD).

Generali's combined ratio (property-casualty) gained 3.1 points over 12 months to 94.3%, while the solvency ratio was up 3 points to 224%.