Generali: shares weaker despite higher quarterly profit

(CercleFinance.com) - Generali's first-quarter earnings rose, boosted by growth in life net inflows, assets under management and premiums.


Operating profit for the quarter ended March increased by 6.9% to 1.3 billion euros, the Italian insurance group said on Thursday.

Its net profit came in at 744 million euros, up 28%, in part reflecting the result from disposals, the company said.

"The first quarter results confirm excellent performance in terms of the group's profitability and its solid capital position," CFO Cristiano Borean said.

These numbers also show that the implementation of its 2021 strategy - that was announced in November 2018 - "has gotten off to an excellent start," he added.

Yet investors sold Generali shares this morning, which were down 1.1%, underperforming a 0.4% in the European insurance sector.

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