Generali reports 10 percent growth

Saturday, Nov 20, 2021 07:52

Generali marks its 10-year milestone operating in Viet Nam with great recognition for its best in class health insurance products and customer service. — Photo courtesy of Generali Vietnam

Italian company Generali Group has reported a year-on-year increase of 10 per cent in consolidated operating profits to €4.4 billion (US$4.99 billion) in the first nine months of the year, with life, asset management and holding and other segments being the main contributors.

Its net profit rose by 74 per cent year-on-year to €2.25 billion ($2.55 billion).

Generali Group CFO Cristiano Borean said, "The results for the first nine months confirm the group's excellent performance, technical profitability and solid trends across all businesses with one of the highest solvency ratios in the sector.

“Life net inflows, entirely focused on the unit-linked and protection lines of business, continue to rise, while the P&C segment remains resilient, despite the higher impact of natural catastrophe claims. The results of the asset management segment continue to grow, also thanks to our multi-boutique strategy.”

Generali is one of the largest global insurance and asset management providers with more than 72 thousand employees and 65.9 million customers, and has a presence in Europe, Asia and Latin America.

Since entering Viet Nam 10 years ago it has quickly grown its network and product suite, and has a leading relational net promoter score (RNPS) in the market. — VNS

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