logo
Plus   Neg
Share
Email
Comment

Generali FY16 Profit Rises, Premiums Down; Lifts Dividend - Quick Facts

Italian insurer Generali Group (ARZGY.PK) reported Thursday that its fiscal 2016 net profit attributable increased 2.5 percent to 2.08 billion euros from last year's 2.03 billion euros, despite lower realized gains.

Earnings per share increased to 1.32 euros from 1.29 euros a year ago.

Operating result reached 4.83 billion euros, up 0.9 percent from 4.79 billion euros last year, thanks to further improvements both in Life, benefiting from good technical performance despite the financial market environment, and in P&C due to a continued improvement of the Group's CoR, the company noted.

Gross written premiums amounted to 70.51 billion euros, down 3.9% from 74.17 billion euros last year.

Net earned premiums dropped to 65.35 billion euros from 68.51 billion euros last year.

Further, the company said it has recommended a dividend of 0.80 euros per share, an increase of 11.1% over the previous year.

Looking ahead, the company said that despite the challenging macroeconomic environment and volatility of the financial markets, in 2017 the Group expects to increase shareholder remuneration, consistent with the strategic plan presented to the market.

Generali will now deliver 2019 savings target on mature markets one year ahead of plan.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
BlackRock Inc., the world's largest asset manager, said it plans to speak with gun makers and distributors following public outcry after the Florida high school shooting that killed 17 people. BlackRock, which had $6.3 trillion in assets under management as of December 31, 2017, holds shares in gun makers Sturm Ruger & Co. Inc. as well as American Outdoor Brands Corp. An upgraded boarding in Southwest Airline will cost you more. The airline usually not assign seats to passengers, but one can choose from an open seat. The Upgraded Boarding will allow passengers to choose from A1 - A15 boarding positions. The cost for these positions would be $30, $40 and $50, depending on flight and route. This option can be availed from the ticket counter or gate. Citigroup Inc.'s co-head of mergers and acquisitions, Peter Tague, is leaving the company, according to media reports, citing people familiar with the matter. Tague has been co-head of Global M&A business at Citigroup since March 2012, alongside Cary Kochman and Mark Shafir. It was not immediately clear what Tague intends to do after he leaves Citigroup.
comments powered by Disqus
Follow RTT