TRIESTE (dpa-AFX) - (Amended: Corrects company name as Generali Group, not Generali Deutschland as erroneously reported earlier)
Italian Insurance company, Assicurazioni Generali Spa (ARZGY.PK) or Generali Group said its nine-month net result declined to 2.23 billion euros from 2.25 billion euros, prior year, affected by the impacts from Russian investments. Earnings per share was 1.42 euros compared to 1.43 euros. Excluding item, net result was 2.37 billion euros, up 5.5%.
The operating result was 4.77 billion euros, an increase of 7.8%, due to the positive development of the Life and P&C segments.
Gross written premiums were 59.83 billion euros, up 1.3% due to continued growth in the P&C segment.
Generali confirmed its commitment to enhance its earnings profile to achieve a compound annual growth rate in earnings per share between 6% and 8% in the period 2021-2024, and to distribute a cumulative dividend to shareholders for an amount between 5.2 billion euros and 5.6 billion euros in the period 2022-2024, with a ratchet policy on dividend per share.
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