Generali: H1 net income down due to Russia

(CercleFinance.com) - Generali shares are down 2% in Milan today, after the group published H1 2022 net profit of 1.
4 billion euros, down 9%, weighed on by impairments on investments in Russia: without these the result would have been flat at 1.54 billion euros.

However, the Italian insurer increased its operating profit by 4.8% to 3.1 billion euros, thanks to positive performances in both life and non-life, while gross written premiums rose by 2.4% to 41.9 billion euros, driven by non-life business (+8.5%).

We have been able to achieve these results in an increasingly uncertain geopolitical and macroeconomic environment, management said, adding that in the coming months, it will remain fully committed to implementing its three-year plan.


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