The Italian insurer Generali recorded a net result of 2.3 billion EUR (2.6 billion USD) in 2018, an increase of 9.4% over one year. The group, which exceeded its financial objectives for the period 2015-2018, can comfortably begin its new three-year plan. The latter targets an average annual growth of profit between 6% and 8% per share.
The group's turnover grew by 4.9% at 66.7 billion EUR (76.3 billion USD) in 2018. The combined ratio stabilised at 93% despite the exceptional man-made disasters mainly the collapse of Genoa bridge.
The Italian insurer achieved an operating result of 4.9 billion EUR (5.6 billion USD) up by 3% over one year. It was a positive result in the major markets with the exception of France where non-life and activities fell by 22% and 3.6% respectively.
The Italian market reported a performance in halftone: the gains in life insurance (+ 3%) against losses in non-life activities (-8.5%). The German market was the group's operating result's driver with life and non-life insurance gaining respectively 0.9% and 26.5% in this territory.
The dividend planned for shareholders increased by 5.8% to reach 0.90 EUR (1 USD) per share in 2018.
On the basis of this performance, Generali intends to make investments of 3 billion EUR (3.4 billion USD) to 4 billion EUR (5 billion USD) so as to improve its growth by 2021. These could relate to bancassurance activities of BBVA, 2nd Spanish bank according to Reuters agency.
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