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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

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