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Generali: stock down after quarterly results

(CercleFinance.com) - Generali shares lost 3% in Milan today following the publication by the insurance company of an adjusted net profit down 9% to E1.
12bn for Q1 2024 (+8% excluding an exceptional capital gain made a year earlier).

The Italian group's operating profit rose 5.5% to E1.9bn, with positive contributions from its three segments: life (+4.9%), non-life (+2.4%) and asset and wealth management (+16.7%).

Thanks to our diversified business model and our solid capital position, driven by strong normalised capital generation, we remain fully on track to achieve all our strategic objectives, says CFO Cristiano Borean.

In addition, Generali has announced its intention to initiate share buy-backs as part of its 2023-25 long-term incentive plan, as well as its ongoing incentive and remuneration plans.


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