Generali reports 5-fold rise in Q1 profit

Italy-based Generali said its first-quarter profit rose five-fold year-on-year to €527 million, driven by 16.2% growth in gross premium written.
The insurer’s first quarter GPW stood at €20.9 billion, buoyed by life segment.

In life insurance segment, the company posted 25.7% rise in the Jan-Mar period, to €14.2 billion, while general insurance segment stagnated at €6.6 billion.

The biggest growth in life segment was observed in Italy (36.4%) and France (27.8%).

The Italian group operates in Romania through its subsidiary Generali Asigurari and FATA Asigurari, the local branch of FATA Assicurazzioni. FATA focuses on insurances in the agricultural sector. Generali PPF Holding also holds Ardaf via Iberian Structured Investments BV.

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