Generali Exceeds Q1 Expectations on Non-Life and Asset Management Businesses

Italy's top insurer - Generali has beat analysts' Q1 forecasts thanks to a positive contribution from the non-life and asset management businesses.

The company’s operating profit stood at 1.6 billion euros in the quarter, up 11% compared with the same period last year and above a company-provided analyst consensus of 1.48 billion euros.

"The rebalancing of the life business mix continues, allowing us to maintain excellent profitability in the current low interest rate environment”, Finance Chief  - Cristiano Borean commented.

Generali's solvency ratio, which measures capital strength under European Union risk-measurement rules, stood at 234%, up from 224% at end of December, due to "excellent capital generation and positive market performance", Generali said.

The company additionally confirmed the targets of its business plan to 2021, including a projected average annual growth in EPS of between 6% and 8%.

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