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Disposals of 1.5 billion, a result exceeding the target set at one billion – Premiums up to 35.1 billion (+ 6.5%) – Strong capital position – CEO Donnet : "Half year profit among the highest of all time: Non-Life and Life's operating performance is excellent, as well as Investment, Asset & Wealth Management activities" – De Courtois new General Manager
group Generali archives the first half with a net profit up 8.8% year on year to 1.349 billion euros. This is the best figure of the last 10 years, obtained by Leone also thanks to the non-operational performance and the result of disposals, well above the taget (1.5 billion against 1 billion). The group announced in a note, that the operating profit amounted to 2.5 billion, up 2.7%, "thanks to the improvement of all segments d & # 39; activity. " [19659003] The annualized annualized operating yield was 12.5%, while the average figure for the period 2015-1H2018, equal to 13.4%, is confirmed in line with the strategic target (> 13%)
The combined ratio reached 92%, "despite the significant impact of natural disasters". The profitability of the new production Vita rose to 4.5%
As for the premiums they rose to 35.1 billion (+ 6.5%), thanks to the development of two segments of activity. Collection net stable at 5.7 billion. Reserves Life Skills up 1.8% in the first half of the year
With regard to the capital position, the regulatory solvency ratio is set at 201% and ] Economic Solvency Report to 221%, "despite the volatility of the markets in the second quarter," says the group in the note.
"The first half results highlight the resistance of the badets and the excellent technical performance and the manufacturers of Generali in a context of global volatility – commented the CEO of Generali, Philippe Donnet ] – I underline in particular the plan of divestments and geographical optimization, with a largely exceeded target to which we add the recent sale of the German company Generali Leben, an innovative operation which will allow us to accelerate the realization of our strategic objectives in the Life segment Non-Vie and Vie's operational performance is also excellent, as well as the Investments, Asset & Wealth Management activities, which confirm the ability to execute our strategic plan with discipline and determination. In this way, we achieved a net profit over six months among the highest of all time.
Yesterday, the board of directors also reviewed the organizational structure of the group, with the creation of the general director in the person of de Courtois attached directly to Ceo Phlippe Donnet
Another key decision is the replacement of CFO Group, Luigi Lubelli, who will leave the company "to meet new professional challenges". His role will be badumed from 1 September 1945 Cristiano Borean currently Cfo Generali France, which will be part of the Group Management Committee.
The purpose of this organizational reorganization, says Generali in a remark, is "to increase the group's ability to meet the significant challenges of the 2019-2021 Strategic Plan, which is based on three pillars: 39, financial optimization, profitable growth, innovation and transformation of the business model ".
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