STOCKS | Assicurazioni Generali Profit Rises 12%, Boosting Confidence in Exceeding Targets

Assicurazioni Generali reported net profit of €3.6 billion for the first nine months, up 12% year over year, and said the results gave the group confidence it could exceed its medium-term strategic targets. According to Sina Finance, net profit topped analysts’ consensus estimate of €3.49 billion. Operating profit rose 8.5% to €6.45 billion, just below the €6.48 billion analyst estimate. All business segments contributed to higher profit. The life insurance business benefited from increased net inflows, while property and casualty insurance recorded profit growth despite more than €1 billion in losses from natural disasters and major man-made accidents. Operating profit in asset and wealth management rose 23%. Gross premiums increased 4.5% to €76.52 billion, slightly below analysts’ estimate of €76.82 billion. Chief Financial Officer Cristiano Borean said the results strengthened the group’s competitive position and gave it confidence that it could exceed all strategic-plan targets. The group launched a three-year plan early last year, targeting annual earnings-per-share growth of 8% to 10% and dividend increases of more than 10% in 2025–2027.