TRIESTE (dpa-AFX) - Italian insurance group Assicurazioni Generali SpA (ARZGY.PK) reported Thursday that its fiscal 2020 net profit was 1.74 billion euros, down 34.7 percent from last year's 2.67 billion euros.
Adjusted net profit amounted to 2.08 billion euros, compared to 2.38 billion euros last year. Adjusted earnings per share were 1.32 euros, compared to 1.52 euros last year.
Consolidated operating result edged up 0.3 percent from the prior year to 5.21 billion euros.
Total gross written premiums reached 70.7 billion euros, up 0.5 percent from 69.79 billion euros a year ago.
Further, the company said the dividend per share that will be proposed at the next Shareholders' Meeting is 1.47 euros, split into two tranches of 1.01 euros and 0.46 euro, respectively. The first tranche is payable as from May 26.
Looking ahead, the company confirmed the objective of a 2018-2021 compound annual growth in earnings per share between 6 percent and 8 percent. RoE for 2021 is expected to be greater than 11.5 percent.
Generali confirms the 2019-2021 cumulative dividend payment of 4.5 billion euros to 5 billion euros, subject to the regulatory context.
Generali Group CEO Philippe Donnet said, 'We have entered the final year of our strategic plan and are well positioned to achieve all of the objectives of 'Generali 2021.'
Copyright RTT News/dpa-AFX