Generali reports strong finish to 2015-2018 strategic plan

The insurer reported a SG$3.5 billion net operating profit

Generali reports strong finish to 2015-2018 strategic plan

Insurance News

By Lauren Ingram

Generali Group has today announced their 2018 annual results, and once again the company has had a good year.

The group reported a €2.31 billion (about SG$3.5 billion) net profit increase, up 9.4% from 2017, and €4.9 billion (about SG$7.5billion) operating result, at a 4% increase.

In a statement accompanying the annual report Philippe Donnet, CEO of Generali Group, said the results meant Generali had met all their targets for the year.

“With the results presented today, Assicurazioni Generali has completed the 2015-18 strategic plan exceeding all the targets and successfully concluding its industrial turnaround,” he explained.

“This was accomplished even considering the difficult macro scenario, confirming our ability to execute and create sustainable value for all stakeholders.”

The group also announced that they would be increasing shareholder dividends by 5.9%, from €0.85 to €0.90.

Rob Leonardi, regional officer, Generali Asia, commented on the results: “Our 2018 annual results show a strong finish to our 2015-2018 strategic plan exceeding all targets that we had set ourselves. Asia proves its potential with a growing contribution to the life insurance segment in particular.

“This is a result of the hard work and dedication of our teams in the eight Asian countries in which we operate. We are well positioned to work towards the new targets in our strategic plan ‘Generali 2021’ and confident that Asia will continue to play an important role in our growth story.”

Generali’s report noted that the company believed economic growth trends will slow in 2019, and that there may be an interest rate increase in early 2020.

“In this context, the Group will continue with its portfolio rebalancing strategy to further strengthen profit margins in the Life segment with a more efficient capital allocation approach,” the report states.

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