logo
Share SHARE
FONT-SIZE Plus   Neg

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
Social media app Snapchat has introduced a new location service, Snap Map, that will allow users of the app to see the location of all their friends on a map. The new feature will essentially allow a user to see where his friends are hanging out and what they are up to and also share his own location with friends in real time. The U.S. has suspended all imports of fresh beef from Brazil due to recurring concerns about the safety of the products. The suspension of shipments from Brazil, the fifth largest exporter of beef to the U.S., will remain in place until the Brazilian Ministry of Agriculture takes corrective action, the U.S. Department of Agriculture or USDA said in a statement. The annual Federal stress test was cleared by 34 top banks. The result shows strong capital levels and the ability of large banks to remain capitalized even in stressed situations. The Federal Reserve noted that these banks will be able to lend to households and businesses even at severe recession and throughout the economic cycle.
comments powered by Disqus
Follow RTT